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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 |

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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

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