Bangladesh’s Securities and Exchange Commission has imposed a six-month ban on six trading houses from the country’s main stock exchange over allegations of market manipulation.

“We have found that these brokers have sold huge shares at abnormally low prices just after the market opened,” a member of the commission told The Associated Press.

The suspension came after an 8.5 percent fall on the stock market index, the second time it has plunged to such levels this month.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.