![]() ![]() Some see the movement as a hot-button political issue, especially as it comes just two months ahead of hard-fought elections to pick the mayors of the two largest cities, Seoul and Busan. In January, the country’s financial regulator said its plan is to lift the Kospi and Kosdaq short-selling ban, which has been in place since March 2020, 'on March 15. ![]() Prime Minister Chung Sye-kyun 'on Thursday told Reuters restrictions 'on the key hedging strategy will eventually be “reinstated after addressing some of the problems caused by institutional investors.” “Do you call this a country? If you want to keep exploiting the citizens, better shutter the stock market!,” 'one investor wrote. “Save the ants! No to short selling! Why befriend short selling,” read 'one of the banners put up by the forum. The retail investors dubbed the movement as ‘kstreetbets,’ after Reddit’s WallStreetBets forum where a rebellion of retail investors against Wall Street drove video-game retailer GameStop Corp. SEOUL (Reuters) - A swarm of online traders in South Korea is taking a leaf from the Reddit horde in the United States to quash a government plan to lift a pandemic-imposed ban 'on short-selling, triggering a rally in the most shorted-stocks such as Celltrion 'on Monday.Īlmost 30,000 investors of the Korea Stockholders Alliance have come together at a membership-based forum at, signing 'online petitions and staging downtown demonstrations calling for permanent ban 'on short selling of shares. Reddit-inspired retail swarm in South Korea battle to remove short sell policy The logo of Celltrion is seen at company's headquarters in Incheon, South Korea, October 28, 2016. ![]()
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