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Amid the accelerating volatility of South Korea’s stock market, discontent is brewing over foreign investors, accused of being responsible with their rampant short selling. Short sellers, either institutional investors or foreign investors here, place bets on stocks that they think would fall in...
South Korean stocks rebounded sharply on March 21 as investors were buoyed by the currency swap deal between Seoul and Washington, snapping a freefall of seven consecutive sessions. The Korean won was also sharply up against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI...
With stock prices of major tech firms plummeting, retail investors see it as a big opportunity for profit, given ultralow interest rates. Past experience of the local stock market’s dramatic rebound -- led by the memory chip market boom -- and pervasive advisory reports by local analysts led many...
South Korea’s stocks declined almost 4 percent on Thursday, as the World Health Organization declared the coronavirus outbreak a pandemic. The benchmark Kospi plunged 73.94 points, or 3.87 percent, to close at 1,834.33 points, extending the previous trading day’s losses of 2.78 percent. The sec...
South Korea’s stocks tumbled by almost 3 percent on March 11 to hit the lowest in almost 4 years on growing skepticism about the U.S.‘s stimulus plans to counter the new coronavirus and an extended sell-off by foreign investors. The Korean won rose slightly against the U.S. dollar. The benchmar...
South Korea’s financial authorities said on March 10 they will tighten regulations on stock short selling as part of market stabilization measures amid increased fluctuations sparked by the outbreak of the new coronavirus and a slide in global oil prices. Finance Minister Hong Nam-ki said the go...
Despite the slowdown in new cases of the novel corona virus (COVID-19) in the country, South Korea’s stock market experienced the worst day in months as the virus continues to rapidly spread across the globe and oil prices fall amid price war among oil producers. The country’s benchmark Kospi pl...
Korea’s financial watchdogs are considering regulating short sales of local stocks, similar to rules being implemented in Hong Kong, to reinforce market vulnerability exposed over massive amounts of equities dumped by foreign investors in the wake of the COVID-19 outbreak. Yet authorities have con...
Korea’s benchmark Kospi rose less than 1 percent, barely recovering past the 2,000 mark after crashing in the previous session Monday over expectations on an interest rate cut in the US. The local currency closed at 1,193.7 won against the US dollar, strengthening 20 won from the previous session...
South Korean real estate investment firm JR Asset Management (JR AMC) said on Feb. 24 that it had obtained government approval for the initial public offering of its real estate investment trust, which invests in Belgium’s second-tallest skyscraper. The REIT, called JR Global, is hoping to carr...
South Korea’s Woori Bank said Feb. 17 it recently merged two of its Cambodian subsidiaries in an effort to provide comprehensive financial services in the Southeast Asian nation. According to the commercial lender, Cambodian financial authorities approved the merger of Woori Finance Cambodia an...
South Korean investment houses are moving to reap windfalls from listed companies here involved in the production of Oscar-winning film “Parasite.” As the shares of producer Barunson E&A and its affiliate saw a strong upshot over the past week, investors in the firms’ mezzanine instruments are...
Seven South Korean firms are looking to raise as much as a combined 247 billion won ($206.6 million) through initial public offerings in February, but market watchers are wary as the local stock market grapples with the Wuhan coronavirus scare. While the number of infections in Korea grew to 15 a...
The recent brouhaha surrounding hedge fund company Lime Asset Management is stoking concerns about a potential liquidity crunch across the financial market in South Korea. At the heart of the controversy is what is called a total return swap. Simply put, a TRS is a financial deal that helps fund ...
The head of the Industrial Bank of Korea officially took office Wednesday after nearly a month of being unable to enter his office in the face of fierce protests from the labor union, which objected to the government’s influence on financial organizations. After reaching an agreement with the la...
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