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SECP orders stockbrokers investigated for market manipulation

KARACHI: The Securities and Exchange Commission of Pakistan on Saturday announced it had ordered an investigation into brokers suspected of market manipulation on the Pakistan Stock Exchange (PSX). It did not name the brokers, but issued a strongly worded statement describing their tactics to manipulate prices on the PSX over several years. "These securities brokers deliberately interfered with the workings of the market to defraud investors," it said in a statement. It said the brokers entered bids and offers with…