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Bangaladesh Stock market halts trading – Stock Market falls more than 9% in one hour!

This article was posted on Jan 10, 2011 and is filed under Market News

Police baton-charged protesters in the Bangladeshi capital Dhaka on Monday, witnesses said, as angry investors vented their fury after the stock market fell more than nine per cent in an hour.

The Dhaka Stock Exchange halted trading after stocks fell a record 9.25 per cent within an hour of opening and thousands of angry investors took to the streets.

The benchmark Dhaka Stock Exchange general index (DGEN) rose 80 per cent in 2010 but has suffered a series of falls in the past three weeks, sparking angry protests from investors and occasional clashes with riot police.

“The DSE has halted trading as per orders from the Securities and Exchange Commission after the benchmark index plunged 660 points, or 9.25 per cent, in the first 54 minutes of trading,” exchange spokesman Shafiqual Islam told AFP.

Riot police with water cannon were stationed outside the stock exchange building in central Dhaka to prevent unrest as thousands of investors gathered to express their fury at the plunge.

Source: Allvoices.com

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