TyB
South Korea to re-impose stock short-selling ban through June to 'level playing field'
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(This never works-it hasn’t yet anywhere-but provides an easily digestible ‘excuse’ that people believe cuz they just read headlines-enforce the illegal naked short selling that goes on and they always say it is to “level playing field for retail against ‘tutes’ “ except there isn’t one to begin with as retail ALWAYS lags by 5-10 seconds BY DESIGN so this just noise as usual and another gimmick “it’s all those evil short sellers fault etc”)
SEOUL, Nov 5 (Reuters) - South Korea from Monday will re-impose a ban on short-selling shares at least until June to promote a "level playing field" for retail and institutional investors, financial authorities said on Sunday.
The ban was lifted in May 2021 for trades involving the shares of companies with large market capitalisation included in the KOSPI200 and KOSDAQ150 share price indices. The restriction has remained in place for most other stocks. Short-selling involves selling borrowed shares to buy back at a lower price and pocket the difference. "The measure is aimed at fundamentally easing 'the tilted playing field' between institutional and retail investors," Financial Services Commission (FSC) Chairman Kim Joo-hyun told a news briefing.
"Amid continued uncertainty in financial markets, major foreign investment banks have been engaged as a matter of practice in unfair trades … and we determined that it would be impossible to maintain fair trading discipline," Kim said. The FSC will review market activity in June to decide whether there is significant improvement to allow the ban to be lifted, he said.
The regulator last week said it would establish a team of investigators to probe short-selling by foreign investment banks for illegal activity including so-called naked short-selling.
Naked short-selling - in which an investor short-sells shares without first borrowing them or determining they can be borrowed - is banned in South Korea.(‘banned here too but it’s out of control and has been for years….go ask Patrick Byrne)
The Financial Supervisory Service in October said it would likely fine two Hong Kong-based investment banks it determined had engaged in naked short-selling transactions worth 40 billion won ($29.58 million) and 16 billion won respectively. (Surely they made wayyy moar so a fine of say 10% or whatever against whatever they made is a business model they count on)
Earlier in the year, the regulator fined five foreign firms including Credit Suisse for naked short-selling.
Officials and market watchers alike have cited uncertainty around short-selling regulation(same problem all over NO ONE ENFORCES IT)as among factors needing to be resolved for influential index provider MSCI to upgrade South Korea to developed-market status.
https://www.reuters.com/markets/asia/skorea-ban-all-stock-short-selling-through-june-2024-2023-11-05/
Aussie AF MGPE01 E-7 Wedgetail east from Ramstein AFB-gonna go set up on Polish/Ukraine border area
Egyptian AF SUBTV Falcon 7x departed New Castle Cty Airport earlier today and SE toward Cairo
Dassault has maintenance facility at Spirit of St. Louis Airport however it arrived at Wilmington on 11/02 from there so not just a fuel stop imo-see below
Arrived at St. Louis on 10/31 from Paris depart and Detroit ground stop. Arrived Paris 1028 from Cairo
Certainly some maintenance going on with the stop at Paris and St. Louis but not 3 days at New Castle @ Wilmington-these ACs have had stops at Wilmington before the early October “firing up” for moar than just a customary fuel stop
2 C17 Globemasters out of eastern med heading WN RCH110/123
SAM226 G5 inbound to JBA from McChord depart