ID :
28874
Fri, 11/07/2008 - 13:43
Auther :
Shortlink :
https://www.oananews.org//node/28874
The shortlink copeid
Market agencies pool money to calm bourse
SEOUL, Nov. 6 (Yonhap) -- Four local stock market agencies have agreed to establish a 515 billion won (US$392 million) fund to calm the turbulent market, a local stock brokers association said Thursday.
The four agencies -- the Korea Securities Dealers Association, the Korea
Exchange, which is the nation's stock market operator, the Korea Securities
Depository and the Asset Management Association of Korea -- plan to inject 103
billion won into the volatile market every month until next March, the Korea
Securities Dealers Association said.
Local stock market agencies created a similar fund worth 400 billion won ($305.6
million) in 2003 for the same reason.
"The monthly amount of injection is subject to change according to market
situations," said the Korea Securities Dealers Association.
The four agencies -- the Korea Securities Dealers Association, the Korea
Exchange, which is the nation's stock market operator, the Korea Securities
Depository and the Asset Management Association of Korea -- plan to inject 103
billion won into the volatile market every month until next March, the Korea
Securities Dealers Association said.
Local stock market agencies created a similar fund worth 400 billion won ($305.6
million) in 2003 for the same reason.
"The monthly amount of injection is subject to change according to market
situations," said the Korea Securities Dealers Association.
