Exchange Decides to Suspend Trading of Korea's Only Russia ETF
[Asia Economy Reporter Gong Byung-sun] The Korea Exchange announced on the 4th that it has decided to suspend trading of the country's only Russia-listed Exchange Traded Fund (ETF).
The Korea Investment KINDEX Russia MSCI ETF (Synthetic), managed by Korea Investment Trust Management, is the only Russia ETF in Korea and tracks the Morgan Stanley Capital International (MSCI) index.
MSCI announced that starting from the 9th, it will apply a price of 0.00001 to Russian stocks within all MSCI indices. Under these circumstances, investors find it difficult to invest by referring to the appropriate Net Asset Value (NAV).
The Exchange stated, "To protect investors and stabilize the market, trading of the related ETF will be suspended," and added, "A separate notice will be given when the suspension is lifted."
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
On the same day, the Korea Investment KINDEX Russia MSCI ETF (Synthetic) closed at 10,070 KRW, down 29.97% (4,310 KRW) compared to the previous day.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
