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Synopsis Korea, whose benchmark surged last year and is up 8 per cent in 2021, this week bowed to retail investor pressure and extended the ban on the key hedging tool, unsettling institutions. Getty Images Traders said that without the benefit of short-selling, they are having to use futures of stocks to hedge their exposure. A growing number of fund managers and traders are worried that South Korea’s pandemic-imposed ban on short-selling, the world’s longest-such restriction, has artificially propped up the country’s stock market rally. The decision this week to extend the short-selling ban imposed in March last year to tame pandemic-hit markets until early May will likely backfire, they said. Korea, whose benchmark surged last year and is up 8 per cent in 2021, this week bowed to retail investor pressure and extended the ban on the key hedging tool, unsettling institutions. ....
Magna in electric-car parts joint venture with LG Electronics Kyunghee Park, Gabrielle Coppola and Sohee Kim, Bloomberg News Magna forms joint venture with LG Electronics VIDEO SIGN OUT LG Electronics Inc. plans to spin off some its electric-car components business into a new joint venture with Canadaâs Magna International Inc. Magna will buy a 49 per cent stake in the new unit for 501.6 billion won (US$453 million) while the remainder will be owned by LG Electronics, the South Korean company said in an exchange filing. The joint venture will make e-motors, inverters and electric-drive systems in factories in Incheon in Korea and Nanjing in China, people familiar with the matter said earlier Wednesday. ....
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