South Korea hits banks with record fines for short-selling
Edited By WION Video Desk
Published: Dec 26, 2023, 06:20 IST | Updated: Dec 26, 2023, 06:20 IST
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South Korea has imposed record fines totaling $20.3 million on two global investment banks and a local unit for engaging in illicit trading practices, specifically naked short-selling. This speculative practice involves selling shares without obtaining a loan or ensuring the availability of borrowed shares, with the aim of profiting from an anticipated drop in the asset's price.
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