South Korea suspects more banks involved in naked shorting

Seoul says joining MSCI's advanced markets indexes not its main goal

20231201 Seoul financial district

A view of Seoul's financial district: In October, South Korea's market regulator, the Financial Services Commission, accused two global investment banks of engaging in naked short-selling. © Reuters

KIM JAEWON, Nikkei staff writer

SEOUL -- South Korea's financial regulator said on Friday that authorities suspect more investment banks were involved in naked short-selling, in addition to the two global banks already under investigation.

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