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South Korea to double price movement limit on stocks

South Korea will double the daily price movement limit on stocks listed on the Korea Exchange for the first time in nearly 16 years.

SEOUL: South Korea will double the daily price movement limit on stocks listed on the Korea Exchange for the first time in nearly 16 years.

Each stock listed on the main board will be allowed to rise or fall by up to 30 per cent from its previous closing price compared with 15 per cent currently, Reuters on Tuesday (Aug 12) reported, citing a joint statement from six ministries and one agency.

According to Reuters, the South Korean government said it hopes the move and other measures will lift the financial sector contribution to 8.0 per cent of the national total in 2017, from 6.7 per cent in 2012. In 1998, the price movement limit on stocks listed on the Korea Exchange was expanded during the peak of the financial crisis. 

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