Financial Authorities Launch Investigation into Five Stocks Hitting Lower Limits Including Same Industry (Update)
The financial authorities and the Korea Exchange have suspended trading for five stocks that hit their lower price limits and will investigate potential unfair trading activities.
On the 14th, the Financial Services Commission, the Financial Supervisory Service, and the Korea Exchange announced that they have requested disclosure inquiries for five stocks: Dongil Co., Ltd., Daehan Textile Co., Ltd., Manho Steel Co., Ltd., Banglim Co., Ltd. (all listed on KOSPI), and Dongil Metal Co., Ltd. (listed on KOSDAQ), and will suspend their trading starting tomorrow. The lifting of the trading suspension will be decided based on the judgment of the financial authorities.
In particular, Dongil Metal, Banglim, and Manho Steel have been designated as investment caution stocks (due to concentrated trading in a small number of accounts). The financial authorities stated their intention to quickly restore orderly trading and establish investor protection measures in response to the sharp price declines of these five stocks.
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The financial authorities stated, "We are thoroughly investigating stocks suspected of unfair trading, and if any violations are detected, we will take strict measures based on a zero-tolerance policy."
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