CCTV.com - CNTV English - CCTV News

S. Korea bans stock short selling for 3 months

08-10-2011 14:37 BJT Special Report:After S&P Downgrades U.S. Credit Rating |

Watch Video

Play Video

South Korea's equity markets have been among hardest hit by recent volatility. So in the latest, the country's financial regulator has decided to ban stock short selling for three months starting Wednesday, and also loosened rules on the amount of daily share buybacks.

The regulator says increased short sales have compounded market instability, since the S&P downgrade of U.S. debt. Meanwhile, the country's two biggest state-run funds said they may boost investments as the government seeks to shore up the market.

South Korea joins Greece this week in banning short selling, after its Kospi Index lost 17 percent of its value in six days. In the meantime, the country's central banks says it will keep a close eye on market speculation, and the short-selling ban is only the first stage of their response.

S Korea's financial regulator has decided to ban stock short selling for three months starting Wednesday.

 

A currency trader watches monitors at the Korea Exchange Bank
headquarters in Seoul, South Korea, Tuesday, Aug. 9, 2011. Asian equity
markets were sharply down early Tuesday as investors fearing a possible
global economic slowdown continued to flee stocks.
(AP Photo/Ahn Young-joon)

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program