(LEAD) S. Korea soon to decide whether to extend short-selling ban
(ATTN: UPDATES with stock prices in 5th para)
SEOUL, June 11 (Yonhap) -- South Korea has yet to decide whether to lift or extend a temporary short-selling ban, the financial regulator said Thursday.
In March, South Korea imposed the six-month ban on stock short selling to cope with a stock market rout triggered by the outbreak of the new coronavirus.
Financial Services Commission Chairman Eun Sung-soo said the authorities will lift the ban with rules if there is a need for improvement of the system.
Eun said in March that the ban on short selling may be lifted before six months when and if the market becomes stabilized.
On Thursday, the benchmark Korea Composite Stock Price Index (KOSPI) fell 18.91 points, or 0.86 percent, to close at 2,176.78, up sharply from March 19, when the market crashed 8.39 percent to close at a yearly low of 1,457.64 points. It sank below the 1,500 level to hit its lowest point since July 2009.
The authorities "will extend" the six-month ban if needed, Eun said in a press briefing, adding that no decision has been made yet on whether to extend the short-selling ban.
The latest ban marks the third of its kind in South Korea. The country last prohibited short selling in 2011.
entropy@yna.co.kr
(END)
-
Ateez to drop new Japanese EP next week
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
(2nd LD) N. Korea still unresponsive to S. Korea's outreach for talks on COVID-19: official
-
S. Korea to resume issuing short-term travel visas, e-visas next month
-
(LEAD) Yoon, PPP lawmakers travel to Gwangju en masse to commemorate 1980 democracy uprising
-
S. Korea to send condolence delegation to UAE over death of president
-
(LEAD) At least 8 injured in S-Oil refinery explosion in Ulsan: firefighters
-
(LEAD) Biden set to arrive in S. Korea for first summit with Yoon
-
(4th LD) Yoon, Biden tour Samsung chip plant ahead of summit
-
(3rd LD) Biden arrives in S. Korea for first summit with Yoon
-
N. Korea to hold state funeral for military official known for ties with Kim Jong-un
-
(4th LD) S-Oil CEO apologizes over Ulsan refinery blast
-
First lady Kim to greet Biden before state dinner