The prime minister's directive to the Securities Commission and Bank Negara to investigate the recent manipulation of the stock market by syndicates is welcomed. God knows how much money genuine investors, stockbroking firms and banks have lost due to the greed of these syndicates which have turned our Bursa Malaysia into a gambling den.

But why is it that our stock market regulators couldn't prevent this sad incident from happening and can only react after the damage is done? I am sure these syndicates have left audit trails of their share purchases and selling. It would not be much of a problem for the authorities to pinpoint the culprits.

Hopefully, the Securities Commission and the other regulatory bodies will move fast to curb the damaging activities of these syndicates. Foreign investors, local fund managers and punters will not venture into a market where share prices fluctuate up and down like yo-yos on a daily basis.

The government would do well to ensure that the Bursa Malaysia is not turned into a casino where people gamble away their hard-earned money to chase stocks the prices of which have already been manipulated by syndicates.

No stone should be left unturned in the investigation and full protection should be given to whistle-blowers if they can help nab the culprits. Indeed, it is due to these whistle-blowers that the top guns of several companies in the US were arrested and charged in court for manipulating the share prices of their companies by creative accounting systems.

If other Asian countries like Hong Kong and Singapore can clean up their act, it is prudent for the Malaysian authorities to address the issue of stock market manipulation and bring the the guilty to book as a lesson to others.