Bombing at political rally kills 9 in Pakistan

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PESHAWAR, Pakistan (AP) — A suicide bomber in Pakistan killed nine people including a provincial government official at a political rally held Saturday by a party that has opposed the Taliban, officials said.


The rally in Peshawar, the capital of northwestern Khyber Pakhtunkhwa province, was held by the Awami National Party, whose members have been repeatedly targeted by the Taliban.


Among the dead was Bashir Bilour, the second most senior member of the provincial Cabinet, said Ghulam Ahmed Bilour, the politician's brother and federal railways minister.


Over 20 others were wounded by the blast, said local police officer Sabir Khan.


U.N. Secretary-General Ban Ki-moon condemned the bombing in a statement, reiterating the United Nations' support for Pakistani efforts "to combat the scourge of terrorism."


Bilour was leaving the rally after delivering the keynote speech when the attack occurred, said Nazir Khan, a local Awami National Party leader.


"There was smoke and dust all around, and dead and wounded people were lying on the ground," he said.


The suicide bomber was on foot, said another police officer, Imtiaz Khan.


Mian Iftikhar Hussain, the Khyber Pakhtunkhwa information minister and a member of the Awami National Party, said both he and Bilour had repeatedly received threats from militants. He condemned the attack and said the government needed to intensify its battle against the Taliban.


"Terrorism has engulfed our whole society," said Hussain. "They are targeting our bases, our mosques, our bazars, public meetings and our security checkpoints."


Ten Taliban militants attacked the military area of an international airport in Peshawar with rockets and car bombs a week ago, killing four people and wounding over 40 others. Five of the militants were killed during the attack, and five others died the next day in a gunbattle with security forces.


Also Saturday, police said a mob in southern Pakistan stormed a police station to seize a mentally unstable Muslim man accused of burning a copy of Islam's holy book. The crowd beat him to death, and then set fire to his body.


The case is likely to raise further concerns about the country's harsh blasphemy laws, which can result in a death sentence or life in prison to anyone found guilty. An accusation or investigation alone can lead to deaths, as people take the law into their own hands and kill those accused of violating it. Police stations and even courts have been attacked by mobs.


Police arrested the man on Friday after being informed by residents that he had burned a Quran inside a mosque where he had been staying for a night, said local police official Biharud Deen.


An angry mob of more than 200 people then broke into the police station in the southern town of Dadu and took the accused man, who they say was under questioning. Deen said police tried their best to save the man's life but were unable to stop the furious crowd.


Police have arrested 30 people for suspected involvement in the attack, said Deen. The head of the local police station and seven officers had been suspended, he said.


Past attempts by governments in predominantly Muslim Pakistan to review these laws have met with violent opposition from hardline Islamist parties.


In southwestern Pakistan, gunmen late Friday killed 11 Pakistanis and Afghans who were trying to cross into neighboring Iran to travel on to Europe as illegal immigrants, said local government official Zubair Ahmed. The shooting took place in Sunsar town in Baluchistan province, he said.


It was not immediately clear who was behind the attack, but hundreds of Pakistanis and Afghans are captured by Iranian border guards every year for illegally trying to travel to Europe to find better jobs.


___


Associated Press writers Abdul Sattar in Quetta, Pakistan, and Adil Jawad in Karachi, Pakistan, contributed to this report.


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Facebook’s SnapChat-Style Sexting App Is Called Poke (Seriously)

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Oh, well would you look at Facebook, trying to make a Christmas funny with its SnapChat copycat app. It’s called Poke! Get it? Because SnapChat is what the kids are all using for their sexting these days, apparently, and Poke — you know, that once kinda flirty Facebook future that’s now pretty much useless — can kind of do the same thing, and it kind of sounds like some bad sexual pun, too! Funny, Facebook, very funny, and way to admit the dirty little truth behind “poking” that we knew all along.


RELATED: Facebook to Launch Its Own SnapChat as Social-Network Clone Wars Live on






Oh, wait. They’re serious? Oh, yeah: Friday afternoon Facebook released Poke, its rumored iPhone app for the incredible vanishing half-message “that makes it fun and easy to say hello to friends wherever you are.” But don’t get too heavy on the old-school “Poke” comparisons, because the new app can actually send regular messages, photos, or videos, too — but only for short periods of time, because that is apparently what the kids like doing these days, if SnapChat’s huge success is any indication. There’s more of a time-bomb component to Poke, though: users can choose how long someone sees a poke before it ceases to exist forever — so you could sext poke all day long, because that, too, is apparently what the kids like doing these days, if SnapChat’s huge, smashing, sexy success is any indication.


RELATED: The Life and Philosophy of Mark Zuckerberg


Why would anyone use Poke over SnapChat? Well, the Facebook app itself has a much smoother interface than SnapChat, and you can report people behaving badly, and everyone’s already on Facebook, right? Maybe this is the breaking point Justin Bieber could never hit, when something sexy goes from the tween set to actual human beings. We’ll let you know when Poke shows up in our iPhone’s App Store; for now we’re not entirely sure if this is just some bad joke. (Although it is in the iTunes Store, so… we’ll see?)


Social Media News Headlines – Yahoo! News





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Ashton Kutcher files for divorce from Demi Moore

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LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.


The actor's divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.


Kutcher's filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.


Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.


Kutcher currently stars on CBS' "Two and a Half Men."


Messages sent to Kutcher's and Moore's publicists were not immediately returned Friday.


Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations' efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.


Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.


Kutcher has been dating former "That '70s Show" co-star Mila Kunis.


The divorce filing was first reported Friday by People magazine.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP.


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Predicting who's at risk for violence isn't easy

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CHICAGO (AP) — It happened after Columbine, Virginia Tech, Aurora, Colo., and now Sandy Hook: People figure there surely were signs of impending violence. But experts say predicting who will be the next mass shooter is virtually impossible — partly because as commonplace as these calamities seem, they are relatively rare crimes.


Still, a combination of risk factors in troubled kids or adults including drug use and easy access to guns can increase the likelihood of violence, experts say.


But warning signs "only become crystal clear in the aftermath, said James Alan Fox, a Northeastern University criminology professor who has studied and written about mass killings.


"They're yellow flags. They only become red flags once the blood is spilled," he said.


Whether 20-year-old Adam Lanza, who used his mother's guns to kill her and then 20 children and six adults at their Connecticut school, made any hints about his plans isn't publicly known.


Fox said that sometimes, in the days, weeks or months preceding their crimes, mass murderers voice threats, or hints, either verbally or in writing, things like "'don't come to school tomorrow,'" or "'they're going to be sorry for mistreating me.'" Some prepare by target practicing, and plan their clothing "as well as their arsenal." (Police said Lanza went to shooting ranges with his mother in the past but not in the last six months.)


Although words might indicate a grudge, they don't necessarily mean violence will follow. And, of course, most who threaten never act, Fox said.


Even so, experts say threats of violence from troubled teens and young adults should be taken seriously and parents should attempt to get them a mental health evaluation and treatment if needed.


"In general, the police are unlikely to be able to do anything unless and until a crime has been committed," said Dr. Paul Appelbaum, a Columbia University professor of psychiatry, medicine and law. "Calling the police to confront a troubled teen has often led to tragedy."


The American Academy of Child & Adolescent Psychiatry says violent behavior should not be dismissed as "just a phase they're going through."


In a guidelines for families, the academy lists several risk factors for violence, including:


—Previous violent or aggressive behavior


—Being a victim of physical or sexual abuse


—Guns in the home


—Use of drugs or alcohol


—Brain damage from a head injury


Those with several of these risk factors should be evaluated by a mental health expert if they also show certain behaviors, including intense anger, frequent temper outbursts, extreme irritability or impulsiveness, the academy says. They may be more likely than others to become violent, although that doesn't mean they're at risk for the kind of violence that happened in Newtown, Conn.


Lanza, the Connecticut shooter, was socially withdrawn and awkward, and has been said to have had Asperger's disorder, a mild form of autism that has no clear connection with violence.


Autism experts and advocacy groups have complained that Asperger's is being unfairly blamed for the shootings, and say people with the disorder are much more likely to be victims of bullying and violence by others.


According to a research review published this year in Annals of General Psychiatry, most people with Asperger's who commit violent crimes have serious, often undiagnosed mental problems. That includes bipolar disorder, depression and personality disorders. It's not publicly known if Lanza had any of these, which in severe cases can include delusions and other psychotic symptoms.


Young adulthood is when psychotic illnesses typically emerge, and Appelbaum said there are several signs that a troubled teen or young adult might be heading in that direction: isolating themselves from friends and peers, spending long periods alone in their rooms, plummeting grades if they're still in school and expressing disturbing thoughts or fears that others are trying to hurt them.


Appelbaum said the most agonizing calls he gets are from parents whose children are descending into severe mental illness but who deny they are sick and refuse to go for treatment.


And in the case of adults, forcing them into treatment is difficult and dependent on laws that vary by state.


All states have laws that allow some form of court-ordered treatment, typically in a hospital for people considered a danger to themselves or others. Connecticut is among a handful with no option for court-ordered treatment in a less restrictive community setting, said Kristina Ragosta, an attorney with the Treatment Advocacy Center, a national group that advocates better access to mental health treatment.


Lanza's medical records haven't been publicly disclosed and authorities haven't said if it is known what type of treatment his family may have sought for him. Lanza killed himself at the school.


Jennifer Hoff of Mission Viejo, Calif. has a 19-year-old bipolar son who has had hallucinations, delusions and violent behavior for years. When he was younger and threatened to harm himself, she'd call 911 and leave the door unlocked for paramedics, who'd take him to a hospital for inpatient mental care.


Now that he's an adult, she said he has refused medication, left home, and authorities have indicated he can't be forced into treatment unless he harms himself — or commits a violent crime and is imprisoned. Hoff thinks prison is where he's headed — he's in jail, charged in an unarmed bank robbery.


___


Online:


American Academy of Child & Adolescent Psychiatry: http://www.aacap.org


___


AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner


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Official: North Korea could have U.S. within missile range

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SEOUL (Reuters) - This month's rocket launch by reclusive North Korea shows it has likely developed the technology, long suspected in the West, to fire a warhead more than 10,000 km (6,200 miles), South Korean officials said on Sunday, putting the U.S. West Coast in range.


North Korea said the December 12 launch put a weather satellite in orbit but critics say it was aimed at nurturing the kind of technology needed to mount a nuclear warhead on a long-range missile.


North Korea is banned from testing missile or nuclear technology under U.N. sanctions imposed after its 2006 and 2009 nuclear weapons tests and the U.N. Security Council condemned the launch.


South Korea retrieved and analyzed parts of the first-stage rocket that dropped in the waters off its west coast


"As a result of analyzing the material of Unha-3 (North Korea's rocket), we judged North Korea had secured a range of more than 10,000 km in case the warhead is 500-600 kg," a South Korean Defense Ministry official told a news briefing.


North Korea's previous missile tests ended in failure.


North Korea, which denounces the United States as the mother of all warmongers on an almost daily basis, has spent decades and scarce resources to try to develop technology capable of striking targets as far away as the United States and it is also working to build a nuclear arsenal.


But experts believe the North is still years away from mastering the technology needed to miniaturize a nuclear bomb to mount on a missile.


South Korean defense officials also said there was no confirmation whether the North had the re-entry technology needed for a payload to survive the heat and vibration without disintegrating.


Despite international condemnation, the launch this month was seen as a major boost domestically to the credibility of the North's young leader, Kim Jong-un, who took over power from his father who died last year.


Apparently encouraged by the euphoria, the fledgling supreme leader called for the development and launching of "a variety of more working satellites" and "carrier rockets of bigger capacity" at a banquet in Pyongyang on Friday which he hosted for those who contributed to the lift-off, according to North Korean state media.


(Editing by Jack Kim and Nick Macfie)



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People flee Japan nuke disaster to faraway Okinawa

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NAHA, Japan (AP) — Okinawa is about as far away as one can get from Fukushima without leaving Japan, and that is why Minaho Kubota is here.


Petrified of the radiation spewing from the Fukushima Dai-ichi nuclear plant that went into multiple meltdowns last year, Kubota grabbed her children, left her skeptical husband and moved to the small southwestern island. More than 1,000 people from the disaster zone have done the same thing.


"I thought I would lose my mind," Kubota told The Associated Press in a recent interview. "I felt I would have no answer for my children if, after they grew up, they ever asked me, 'Mama, why didn't you leave?'"


Experts and the government say there have been no visible health effects from the radioactive contamination from Fukushima Dai-ichi so far. But they also warn that even low-dose radiation carries some risk of cancer and other diseases, and exposure should be avoided as much as possible, especially the intake of contaminated food and water. Such risks are several times higher for children and even higher for fetuses, and may not appear for years.


Okinawa has welcomed the people from Fukushima and other northeastern prefectures (states) affected by the March 11, 2011, earthquake and tsunami that set off the nuclear disaster. Okinawa is offering 60,000 yen ($750) a month to help relocating families of three or four pay the rent, and lower amounts for smaller families.


"We hope they feel better, maybe refreshed," said Okinawan official Masakazu Gunji.


Other prefectures have offered similar aid, but Okinawa's help is relatively generous and is being extended an extra year to three years for anyone applying by the end of this year.


Most people displaced by the disaster have relocated within or near Fukushima, but Okinawa, the only tropical island in Japan, is the most popular area for those who have chosen prefectures far from the nuclear disaster. An escape to Okinawa underlines a determination to get away from radiation and, for some, distrust toward Tokyo Electric Power Co., the utility that operates Fukushima Dai-ichi.


Kazue Sato lived in fear of radiation because the roof of her home in Iwaki, a major city in Fukushima, was destroyed by the earthquake.


And so she moved with her husband, a chef, back to Okinawa, where she had grown up. She now lives in her grandparents' home and hopes to turn it into a coffee shop with her husband.


But Sato is still struggling with depression, especially because her old friends criticized her for what they thought were her exaggerated fears about radiation. She struggles with a sense of guilt about having abandoned Fukushima.


"Little children have to wear masks. People can't hang their laundry outdoors," she said. "Some people can't get away even if they want to. I feel so sorry for them."


Sato and Kubota are joining a class-action lawsuit being prepared against the government and Tokyo Electric on behalf of Fukushima-area residents affected by the meltdowns. It demands an apology payment of 50,000 yen ($625) a month for each victim until all the radiation from the accident is wiped out, a process that could take decades, if ever, for some areas.


Independent investigations into the nuclear disaster have concluded that the Fukushima Dai-ichi plant was unprepared for the massive tsunami, in part because of the nuclear industry's cozy relationship with government regulators.


"We think people have the right to live in an environment not polluted by radiation that may harm their health, and that right has been violated by this accident," Izutaro Managi, one of the case's lawyers, said in a meeting earlier this month for plaintiffs in Naha, a major Okinawan city.


Japan's statute of limitations requires that the lawsuit be filed no later than March 11, 2014. About 20 of the evacuees in Okinawa have signed on to the lawsuit, which has gathered 100 other people in the three weeks since it began.


Kubota, who now works part time for an Okinawa magazine publisher, said the problem is that no one is taking responsibility for the accident.


"Seeking accountability through a lawsuit may feel like such a roundabout effort. But in the end, it's going to be the best shortcut," she said.


She is getting health checkups for her children, fretting over any discovered problems, including anemia, fevers and nosebleeds.


Her fears are heightened by the fact that she and her children had lived in their car right after the disaster, which had liquefied the land and destroyed their home. They had unknowingly played outdoors while the nuclear plants had been exploding, she recalled.


The disaster ended up separating her family. Her husband refused to leave his dentist practice in Ibaraki Prefecture. They argued over whether to relocate, but she knew she had to leave on her own when he said: "There is nothing we can do."


These days, he visits her and their two boys, ages 8 and 12, in her new apartment in Okinawa on weekends. He sends her money, something he didn't do at first.


"I wake up every day and feel thankful my children are alive. I have been through so much. I have been heartbroken. I have been so afraid," she said.


___


Follow Yuri Kageyama on Twitter at www.twitter.com/yurikageyama


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Red Hat shares up on acquisition and 3Q results

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Red Hat Inc.‘s shares jumped Friday on the software company‘s solid third-quarter results and plans to acquire cloud-based software company ManageIQ.


THE SPARK: Red Hat said late Thursday that it would buy privately held ManageIQ for $ 104 million in cash.






The Raleigh, N.C., company also reported that it earned 29 cents per share for its fiscal third quarter on an adjusted basis, up a penny from the prior year and in line with analyst expectations. Its revenue for the period increased 18 percent to $ 343.6 million, which beats the $ 338 million that analysts polled by FactSet had forecast.


THE BIG PICTURE: ManageIQ’s software helps businesses deploy and manage private clouds. Red Hat said the deal will expand the reach of its public-private cloud setups for its customers. The acquisition is expected to have no material impact to Red Hat’s revenue for its fiscal year ending in February.


THE ANALYSIS: Stifel Nicolaus analyst Brad R. Reback said that the company has been able to maintain momentum even in a difficult environment and he thinks the latest deal offers an interesting longer-term angle for its business. He thinks the company is well positioned to generate at least 15 to 20 percent billings growth in the future. He reiterated a “Buy” rating and a $ 65 price target on its shares.


SHARE ACTION: Shares gained $ 2.25, or more than 4 percent, to $ 54.86 in afternoon trading. Shares have traded between $ 39.19 and $ 62.75 in the past 52 weeks.


Linux/Open Source News Headlines – Yahoo! News





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Ashton Kutcher files for divorce from Demi Moore

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LOS ANGELES (AP) — Ashton Kutcher filed court papers Friday to end his seven-year marriage to actress Demi Moore.


The actor's divorce petition cites irreconcilable differences and does not list a date that the couple separated. Moore announced last year that she was ending her marriage to the actor 15 years her junior, but she never filed a petition.


Kutcher's filing does not indicate that the couple has a prenuptial agreement. The filing states Kutcher signed the document Friday, hours before it was filed in Los Angeles Superior Court.


Kutcher and Moore married in September 2005 and until recently kept their relationship very public, communicating with each other and fans on the social networking site Twitter. After their breakup, Moore changed her name on the site from (at)mrskutcher to (at)justdemi.


Kutcher currently stars on CBS' "Two and a Half Men."


Messages sent to Kutcher's and Moore's publicists were not immediately returned Friday.


Moore, 50, and Kutcher, 34, created the DNA Foundation, also known as the Demi and Ashton Foundation, in 2010 to combat the organized sexual exploitation of girls around the globe. They later lent their support to the United Nations' efforts to fight human trafficking, a scourge the international organization estimates affects about 2.5 million people worldwide.


Moore was previously married to actor Bruce Willis for 13 years. They had three daughters together — Rumer, Scout and Tallulah Belle — before divorcing in 2000. Willis later married model-actress Emma Heming in an intimate 2009 ceremony at his home in Parrot Cay in the Turks and Caicos Islands that attended by their children, as well as Moore and Kutcher.


Kutcher has been dating former "That '70s Show" co-star Mila Kunis.


The divorce filing was first reported Friday by People magazine.


___


Anthony McCartney can be reached at http://twitter.com/mccartneyAP.


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Malala asks Pakistan not to rename college for her

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MINGORA, Pakistan (AP) — A 15-year-old Pakistani girl who was shot by the Taliban for promoting girls' education has urged Pakistan to reverse a decision to rename a college in her honor to avert militant attacks on students, an official said Friday.


Malala Yousufzai, who became a symbol of youth resistance to the Taliban, made the request after students broke into the school, tore down Malala's pictures and boycotted classes in her home town of Mingora. They said renaming the college endangered their lives.


Senior government official Kamran Rehman said Malala called him from London, where she was being treated for critical wounds from the attack on Oct. 9. The Taliban said it targeted her for promoting education for secular girls.


Malala's case won worldwide recognition for the struggle for women's rights in Pakistan and Taliban have vowed to target her again.


Pakistani Taliban have a strong presence in the country's tribal regions bordering Afghanistan.


A bomb ripped through the office of a local militant commander Maulvi Abbas in Wana, a main town in the South Waziristan tribal region in the northwest, killing him and three of his guards, two intelligence officials said Friday.


Abbas was an associate of Hakimullah Mehsud, the head of Tehrik-e-Taliban Pakistan militant group, they said, speaking on condition of anonymity because they were not authorized to brief reporters.


It was unclear who had planted the bomb. The attack came weeks after a suicide bomber in the same town attacked Maulvi Nazir, a prominent militant commander who is believed to have a nonaggression pact with the army.


Nazir was wounded in the attack, and seven of his men were killed.


Since then there has been tension between followers of Nazir and the Tehrik-e-Taliban Pakistan in the region.


___


Associated Press Writer Ishtiaq Mahsud contributed to this report from Dera Ismail Khan.


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Insiders steal a march in leak prone Asian markets

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SINGAPORE (Reuters) – When South Korean automaker Hyundai Motor Co announced last month it had overstated the fuel efficiency levels on around one million of its cars in the United States and Canada some investors were left fuming more than others.


Some had already sold their shares before the announcement on November 2. The stock fell 4 percent on November 1 with about 2.2 million shares changing hands, the highest trading volume of the year at that point.






“This smells pretty bad,” said Robert Boxwell, director of consulting firm Opera Advisors in Kuala Lumpur who has studied insider dealing patterns.


“It would have fallen into our suspect trading category,” he added.


Boxwell spots suspect trading by looking at how much the volume diverges from the average level in the days before a market moving announcement. In the Hyundai instance, the volume was more than five standard deviations, a measure of variation, away from the daily average of 598,741 shares over the past year.


A Hyundai spokeswoman declined to comment.


Research from the Capital Markets Co-operative Research Centre (CMCRC), an academic centre in Sydney that studies financial market efficiency, found that 26 percent of price-sensitive announcements in Asia Pacific markets showed signs of leakage in the first quarter of this year, the most recent period for which data was available.


That compared with 13 percent in North American markets.


The CMCRC says it looks for suspected information leaks by examining abnormal price moves and trading volumes ahead of price-sensitive announcements.


Investors say one reason for leaks in Asia has been low enforcement rates for insider trading and breaches of disclosure rules. Enforcement in some markets is virtually non-existent.


There are also misconceptions about whether trading on non-public information is a crime.


“The idea that insider trading is wrong rather than smart is only being ingrained in the current generation of Asian players, not the older generation who are often still in the driving seat,” said Peter Douglas, founder of GFIA, a hedge fund consultancy in Singapore.


LOSS OF CONFIDENCE


Japan’s largest investment bank Nomura Holdings was embarrassed this year after regulatory investigations found it leaked information to clients ahead of three public share offerings.


Nomura has acknowledged that its employees leaked information on three share issues it underwrote in 2010. In June, it published the results of an internal investigation that found breaches of basic investment banking safeguards against leaking confidential information and announced a raft of measures to prevent recurrence.


The bank was also fined 200 million yen ($ 2.37 million) by the Tokyo Stock Exchange and 300 million yen by the Japan Securities Dealers Association.


Such leaks hurt companies’ share prices in the long run because investors put in less money if they feel they are not on a level playing field.


“It is very damaging. You may not know how much money you’ve lost but if there is not confidence that the regulators are prosecuting and enforcing the rules on this then it undermines investor confidence and liquidity,” said Jamie Allen, secretary general of the Asian Corporate Governance Association.


The issue isn’t being ignored. Many Asian markets such as Hong Kong and China have tightened their rules on insider trading over the past decade.


Indeed some investors feel that while leaks and insider dealing are unfair, regulators in the region have more serious issues they should be tackling.


“I would like to see the regulators spend more resources on investigating and prosecuting fraud against listed companies, which severely damages shareholder value,” said David Webb, a corporate governance activist in Hong Kong, arguing insider dealing as less of an impact on a company’s long-term share price.


HTC AND APPLE


A week after Hyundai’s announcement about its problems in the United States, there was an unexpected move on the Taiwan Stock Exchange.


Shares in smartphone maker HTC Corp jumped almost seven percent on Friday, November 9, hitting the daily upper trading limit. On Sunday came the surprise announcement that the company was ending its long-running patent dispute with Apple Inc , a move seen as a positive for the stock.


The Taiwan bourse announced it was investigating the trading patterns to see if there was a possible leak.


When asked for comment, HTC referred back to a November 13 statement in which the company said it had kept the Apple settlement process confidential and has strict controls on insider trading.


Michael Lin, a spokesman for the Taiwan Exchange, told Reuters on Friday that the bourse is still working with the regulator on the case.


‘ENORMOUS LOSSES’


Michael Aitken, who oversees research at the CMCRC, said many other Asian markets lack tough enough rules to force information to be released as efficiently and timely as possible, a primary reason for the prevalence of leaks.


“Poor regulation hampers enforcement efforts,” he said pointing out that few markets have the “continuous disclosure” rules used in Australia which require listed companies to release material information as soon as possible.


In Korea, when Hyundai shares started to fall, rumours began swirling that news about a problem with some of its cars was on its way, but investors say it took the company too long to disclose what exactly was happening.


“Hyundai at that time did not confirm the rumours. We suffered enormous losses because of this,” said one fund manager, who declined to be named because he was not authorised to speak to the media.


An official from Korea Exchange declined to comment on whether it was investigating this case, saying only that the exchange looks carefully into possible cases of insider trading.


Across Asia, regulators concede that many company executives and insiders still do not appreciate that leaking or trading on material, non-public information is an offence.


“People don’t even know they are engaging in insider trading, for example if their friends are talking about it on the golf course,” said Tong Daochi director-general for international affairs at the China Securities Regulatory Commission, during a regulation conference last month.


“We try to tell society, what are the criminal issues, what are the insider trading issues? For example we have held 27 press conferences to tell the public what kind of activities are involved in insider trading and to let people know that this is an active crime.” ($ 1 = 84.2600 Japanese yen) ($ 1 = 0.6147 British pounds)


(Reporting by Rachel Armstrong; additional reporting by Nishant Kumar in HONG KONG and Hyunjoo Jin in SEOUL; Editing by Emily Kaiser)


Wireless News Headlines – Yahoo! News





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