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Mon, September 27, 2021 | 01:08
Expectations of BOK rate cut escalate
The Bank of Korea (BOK) froze its key rate at 1.5 percent on Tuesday, but left open the possibility of cutting the benchmark rate as early as March, officials and analysts said. The BOK held the benchmark rate for eight straight months since last July after delivering four rate cuts since 2014 to bolster growth in Asia’s fourth-largest economy.
Banks, brokerages compete for ISA customers
Banks and brokerage houses are competing for customers seeking to open individual savings accounts (ISAs), as the financial regulator has allowed lenders to sell the retail investment service, previously offered by securities firms only.
Stocks of Gaeseong firms fall sharply amid complex shutdown
Shares in corporations related to North Korea business dropped sharply Friday after the Gaeseong Industrial Complex (GIC) was shut down amid increasing tension between the two Koreas, analysts said.
KOSDAQ falls 6% amid circuit breaker
Korea’s tech-savvy minor bourse, KOSDAQ, fell more than 6 percent Friday on uncertainties over U.S. interest rates and the sluggish Chinese economy, prompting its operator to suspend trading temporarily, analysts said.
Geopolitical risks will hit Seoul stocks
Seoul stocks are expected to take a severe beating this week on growing geopolitical risks following North Korea’s launch of a rocket, and weaker global bourses over concerns of sluggish growth in China and tumbling oil prices, analysts said Wednesday.
Short selling hits retail investors
Institutional investors have increased their short selling, a tactic to profit from plunging stocks, on the Seoul bourse, hurting many retail investors and drawing protests from them, analysts said Thursday.
Won falls, shares down on low oil prices
The local currency lost 1 percent against the U.S. dollar Wednesday, hitting its lowest value in five-and-a-half years as low oil prices are driving investors to safer assets, analysts said Wednesday.
Moody's reviews SC to cut credit ratings
Moody’s Investors Service said Wednesday that it is continuing to review Standard Chartered Bank Korea (SCBK) for a ratings downgrade.
What if Elliott attacks Lotte?
What if U.S. activist fund Elliott pressures Lotte Group to sell its subsidiaries through its ownership of a key stake in the group’s listed affiliates in Korea?
State financial institutions to introduce merit pay
The financial regulator said Monday that it will introduce a performance-based wage system at nine state-run institutions this year to encourage a meritocratic culture in their offices.
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