Korea Exchange Says It Will Strengthen Market Monitoring
August 07, 2011, 9:14 PM EDTBy Saeromi Shin
(Adds Kospi Index in third paragraph.)
Aug. 8 (Bloomberg) -- Korea Exchange Inc. will strengthen market monitoring after the nation’s benchmark stock index rounded off its biggest four-day drop in almost three years.
The exchange operator will keep a close eye on short selling and arbitrage transactions, Korea Exchange said in an e- mailed statement today, after an emergency meeting by Chairman Kim Bong Soo and other officials.
Korea Exchange will hold a meeting every day before the market opens, today’s statement said. The benchmark Kospi Index tumbled 11 percent in the previous four trading days, the steepest losing streak since November 2008, amid a rout in global equities. The stock gauge lost 1.2 percent to 1,919.95 as of 9:41 a.m. in Seoul today.
--Editors: Richard Frost, Shiyin Chen
To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net
To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net
