Turmoil in the Manila Bourse
Wonder if any index funds based on the Philippine Stock Exchanges benchmark index will be able to claim any losses? Then again, I’m not sure if there are any pure index plays based on their markets…
http://www.businesstimes.com.sg/sub/news/story/0,4574,396706,00.html?
The Philippine Stock Exchange yesterday rolled out a new trading system that quickly plunged the market into disarray with wildly wrong data.
It took the bourse more than three hours after the close of trading to issue the correct figure for the benchmark index, after officials told investors to disregard the whooping 14 per cent gain erroneously calculated by the new system.