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.
Retail investors vow war if short-sellers end South Korea stock rally
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Retail investors vow war if short sellers end South Korea stock rally
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World’s Longest Short-Selling Ban Coming to an End in Korea
Bloomberg 2 hrs ago Youkyung Lee
(Bloomberg) Starting next week, investors in South Korea will be able to short sell the nation’s biggest stocks as Seoul ends the world’s longest pandemic-imposed ban on the trading strategy. That’s much to the dismay of retail traders, who now dominate the local market.
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On May 3, Korea is set to partially lift the ban it imposed in March last year on the key hedge fund strategy. When it does, individual traders who have come to take up about three quarters of the market’s daily trading volumes amid the pandemic will find a once-insurmountable trading strategy a lot easier to carry out, thanks in part to an increased number of brokerages queuing up to lend them shares.
World s Longest Short-Selling Ban Coming to an End in Korea
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