Channel NewsAsia
Channel NewsAsia
AsiaPac · 1 hrs ago

South Korea curbs may not save investors slaughtered by $2 trillion rout

SEOUL, July 30 : South Korea's efforts to rein in the leveraged products wreaking havoc in its financial markets may not go far enough to quell skyrocketing volatility, analysts say, as pain and public anger mount over a $2 trillion-and-counting stocks wipeout.As the hottest trade in the world has hit reverse, with the country's stock market down about 40 per cent in a month, it is local investors — young people, pensioners and mums and dads — who borrowed money and piled in late who are hurting the most of all.That has turned up the heat on a government that cheered on the rising market and has been under pressure as it has fallen, with some investors placing condolence flowers outside the country's parliament building.Amid the selloff on Wednesday, the Bank of Korea governor and the head
Channel NewsAsia
Do you trust Channel NewsAsia?
Sign in to rate
Discussion
?

No comments yet — be the first to start the discussion!