Subscribe to Bankless or sign in
South Korean financial authorities have banned short-selling until next June. The Korean tech index (KOSDAQ) posted its largest single-day gain in history, but the move begs the question: is crypto the only free marketplace?
JUST IN: The Korean tech index jumped 12% today after South Korea announced that short selling is banned until June 2024.
— The Kobeissi Letter (@KobeissiLetter) November 6, 2023
The index just posted its largest single-day gain in history.
This comes after the index was down a massive ~32% since July 26th.
To put this in… pic.twitter.com/Gku8PWnmDW
The stated intention of the measure is to eliminate naked short selling, a practice that is already illegal in Korea – involving shorting shares without actually borrowing them, but the ban will apply to all short selling.
Upgrade to continue reading
- Support the Bankless Movement
- Premium Feed: Ad Free & Bonus Content
- Daily Market Analysis & Research
- Airdrop Hunter: Guided, Vetted Projects
- Claimables: Find & Claim Airdrops + more
- Private Discord w/ David & Ryan
