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But the authorities’ moves “aren’t really helpful to the development of Korea’s capital markets”, said Lyndon Chao, managing director at Asia Securities Industry & Financial Markets Association (ASIFMA).
“It’s simply not true that illegal short selling is rampant in Korea, certainly not by the global community,” Chao added. “Short selling takes up a very, very small percentage of overall trading volumes, so it’s just illogical and irrational to say that because of this very small percentage of trading that’s shorting the market.”
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