Stock short selling on rise despite market upturn
Stock short selling has been on the rise despite the country's stock market sharply rebounding from a rout caused by a crash in chipmakers and artificial intelligence (AI)-related shares, data showed Sunday. According to the data from the Korea Exchange (KRX), outstanding short selling reached some 19 trillion won ($13.4 billion) as of Tuesday, up 14 percent, or 2.27 trillion won, from 16.73…
Despite the Korean stock market surging higher, short selling has been increasing, data released Sunday revealed. The Korea Exchange (KRX) reported that outstanding short selling reached 19 trillion won ($13.4 billion) as of Tuesday, a 14% rise from 16.73 trillion won at the end of last month. The figure had fallen to 12 trillion won in early March but rebounded to 23 trillion won in early June.
Meanwhile, the benchmark Korea Composite Stock Price Index (KOSPI) has climbed 6% this month, while the KOSDAQ index, which is heavily weighted towards technology stocks, has jumped 20%. The market's sharp recovery follows a previous crash triggered by concerns over the profitability of artificial intelligence (AI)-related investments, which in turn affected the demand for chips.
Despite the positive market sentiment, investors remain cautious and uncertain about whether the chipmaking sector has reached its peak.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Stock short selling on rise despite market upturn en.yna.co.kr
- Stock short selling on rise despite market upturn koreatimes.co.kr
