Finance

KOSPI ends at 7,200 after wild swings; foreigners net sell nearly 3 trillion won

South Korea\'s KOSPI swung sharply on May 20 and closed down at 7,208.95, after opening higher and briefly sliding to 7,053.84. Foreign investors net sold 2.93 trillion won worth of shares, while retail investors and institutions were net buyers. Analysts said the selling looked more like profit-taking in sharply rising semiconductor stocks than a broader exit from the market.

Finance

Korea moves toward principle ban with exceptions for duplicate listings, shareholder safeguards in focus

South Korea is moving toward a policy of banning duplicate listings in principle while allowing exceptions, as the government seeks to prevent harm to parent-company shareholders and ease the Korea discount. At a seminar at the Korea Exchange, participants debated how far shareholder approval should be mandatory and what form it should take. Investors called for stronger curbs, while IPO and venture capital participants warned excessive rules could hinder fundraising and growth.