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Published on February 16, 2008

The SEC's measures include requiring brokers to keep customers' transaction order forms, stated transaction periods and customer signatures for at least five years.

Brokers also now have to record all telephoned transaction orders and keep them for at least one month.

Brokerages which have processed a concentration of stock transactions shown on the SEC's weekly Turnover List must report those transactions to the company's board along with proposals to manage possible risk which may result from the transactions.

EMC warrants yesterday took the hardest blow among its peers, falling 30 per cent to Bt2.80. EMC's stock plummeted 24 per cent to Bt4.18. Live Incorporation (LIVE) lost 27.27 per cent to Bt2.40, International Engineering (IEC) plunged 12.14 per cent to Bt1.25.

Bliss-Tel (BLISS) slumped 12.87 per cent to Bt0.88, and its warrants were off 10.81 per cent at Bt0.33. Traffic Corner Holdings (TRAF) dropped 8.75 per cent to Bt7.30.

Interestingly, there were big sales lots of LIVE, BLISS and EMC stocks yesterday.

According to the Stock Exchange of Thailand, 200 million LIVE shares were sold at Bt2.34 apiece totalling Bt468 million, 98 million BLISS shares were sold at Bt0.72 per share amounting to Bt70.65 million and 18.5 million EMC shares were unloaded at Bt3.88 each totalling Bt71.76 million.

The SET index yesterday dropped 0.66 per cent to 826.65 after several days of gains.

SET President Patareeya Benjapolchai rushed to allay market jitters, saying that the SEC's measures to stem stock manipulation were intended to tighten monitoring on particular stocks where irregular price movements had been seen, but they should not affect overall market sentiment.

The SET had earlier floated the idea of using information from the SEC's Turnover List in deciding to enforce the ban on net settlement and margin loan trading, she said.

Sirporn Chanjindamanee, The Nation