S.Korea's brokers leap on hopes transaction tax will be scrapped

Eugene Investment & Securities Co

07/11/2018 01:49

** Shares of South Korean securities firms jump as the
country's top financial regulator says it is about time to
consider abolishing the market's securities transaction tax
    ** The Financial Services Commission Chairman Choi Jong-ku
expressed his concerns at a parliamentary session on Tuesday
about problems that could be caused by the tax, such as double
taxation and investors having to pay whether they make profits
or not
    ** Under the current law, tax authorities impose 0.15
percent per transaction on the benchmark KOSPI market  .KS11 
    ** NH Investment & Securities  005940.KS , Eugene Investment
& Securities  001200.KS  and Mirae Asset Daewoo  006800.KS 
trade up 3.4 pct, 3.2 pct and 3.1 pct, respectively
    ** Broader KOSPI market up 0.4 pct as of 0147 GMT

 ((joori.roh.thomsonreuters.com@reuters.net))