Regulators pressed to apply measures amid crypto volatility
Posted : 2021-05-24 17:19
Updated : 2021-05-24 17:59
Financial Services Commission Chairman Eun Sung-soo speaks during his visit to a NongHyup Life Insurance service center in Seoul on April 29. Yonhap
By Lee Min-hyung
The Financial Services Commission s (FSS) lackluster attitude toward the handling of the burgeoning cryptocurrency market here is escalating the confusion felt by investors.
After FSC Chairman Eun Sung-soo shared his ultra-negative views of the booming digital currency market last month, the regulator remains taking a wait-and-see approach, without taking any concrete actions or sharing specific regulatory plans. This passive approach is due to fears that issuing any warnings without a detailed future policy roadmap will end up widening the volatility of major large-cap cryptocurrencies.
Posted : 2021-05-03 16:32
Updated : 2021-05-03 17:03
Financial Services Commission (FSC) Vice Chairman Do Kyu-sang, left, speaks while attending a National Assembly meeting on Yeouido in Seoul, April 26. Yonhap
Watchdogs pledge toughest punishment for illegal short-selling
By Lee Min-hyung
The partial resumption of the short-selling of shares on the local stock market Monday did not cause much confusion, even though some in the overvalued sectors, such as biotechnology and electric vehicle batteries, plunged.
According to data from the Korea Exchange, the benchmark KOPSI did not fluctuate by a huge margin despite concerns that the partial resumption would derail investor sentiment. The main bourse closed Monday at 3,127.20, down 20.66 points or 0.66 percent, from the last trading day.
May 3, 2021
Retail traders who drove record gains in South Korean stocks during the darkest days of the pandemic have been bracing for a new threat the return of institutional players betting on share-price declines.
The world’s longest ban on short-selling stocks came to an end Monday, with stocks fluctuating between gains and losses. Nevertheless, the end of the ban has individual investors scrambling for strategies to protect their portfolios.
Some have cashed out large chunks of their holdings over recent weeks, while others are toying with the idea of trying short selling themselves. One influential group, the Korea Stockholders Alliance, even vowed to gather day traders into a force to fight short-sellers much the same way their U.S. peers took on Wall Street over GameStop Corp. if equities begin to tumble.