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Japan regulator says Singapore-based hedge fund manipulated share prices

Reuters – A Singapore-based hedge fund manipulated prices in the Japanese equity market and should pay a 431 million yen ($4.38 million) fine, Japan’s securities regulator said, which would be biggest ever imposed against a non-Japanese firm for market manipulation.

The Securities and Exchange Surveillance Commission (SESC) said on Wednesday that Juggernaut Capital Management inflated the share price of real estate developer Rise Inc for 26 business days during March and April last year.

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