Bloomberg – Thirty seconds of trading before the market close that drove a stock higher was cited when Japan’s securities watchdog today recommended fining a Hong Kong hedge fund for market manipulation.
Areion Asset Management Co. bought 7.9 million shares of Nitto Denko Corp. (6988) in the half-minute before 3 p.m. Tokyo time on Sept. 25 last year, the Securities and Exchange Surveillance Commission said.
