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Korea to complete works for stock market fund in mid-Oct

Korea Economic Daily LogoKorea Economic Daily2 mo ago

Korea to complete works for stock market fund in mid-Oct - Korea Economic Daily

Quick Summary:

South Korea is set to complete the process for a stock market stabilization fund of 10 trillion won ($7 billion) by the middle of this month in order to immediately tap the money and reduce volatility in the market when necessary.

The committee plans to hold its first meeting on Wednesday.“We have yet to decide when to inject the fund although it is correct to complete the works for the fund’s establishment in the middle of this month,” Kang said.“The completion of the works does not mean that we will inject the fund immediately.

The fund invests in exchange-traded funds (ETFs) for the Kospi 200 Index, a capitalization-weighted index of the 200 largest stocks that make up more than 90% of the total market value of the country’s stock market, and other index funds.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-10-04 @ 18:17:19 (2 months ago)

News Timezone: GMT +8:00

Ranking: #565 (out of 3255 stories this day)

News Source URL: kedglobal.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 716663

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 12 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 11 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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