South Korea ADRs jump after short selling ban on stocks

Korea Electric Power

06/11/2023 17:20

(Updates)
    ** U.S.-listed shares and exchange-traded funds tracking
South Korean stocks rally as authorities in Seoul re-imposed a
ban on short-selling through the first half of 2024 to promote a
"level playing field"
    ** South Korea's stock index KOSPI  .KS11  closed 5.7%
higher, logging its biggest one-day gain since early 2020
    ** Shares of conglomerate POSCO  PKX.N  jump 15.6%, while KB
Financial Group  KB.N  adds 2.4% 
    ** South Korean flatscreen maker LG Display  LPL.N  gains
4.2% and Korea Electric Power  KEP.N  climbs 3.5%
    ** ETFs such as the iShares MSCI South Korea ETF  EWY.N  and
the Franklin FTSE South Korea ETF  FLKR.N  gain 5.4% and 6.1%,
respectively, while the Direxion Daily MSCI South Korea Bull 3X
Shares ETF  KORU.N  jumps 16.1%
    ** The ETFs are up between 7.9% and 11.3% so far this year

 (Reporting by Bansari Mayur Kamdar in Bengaluru)
 ((BansariMayur.Kamdar@thomsonreuters.com;  Follow on X:
@BansariKamdar;))