Korea FSS Probes Possible Unfair Trading Over Stock Selloff Through Deutsche Securities
The KOSPI index plunged 53.12 points to 1914.73 on November 11, 2010 as foreign investors sold off more than KRW1 trillion before the expiration of option contracts.
Foreign investors sold a net KRW1.34 trillion of shares yesterday. Most of the selloff was confirmed to have been made through Deutsche Bank AG’s South Korean securities unit, which sold about KRW1.6 trillion worth of shares.
In relation to the selloff, the Financial Supervisory Service launched an investigation jointly with Korea Exchange on November 12, 2010 to determine if it is an act of unfair trading.