Seoul: South Korea's bourse operator said Monday it had identified 76 suspected illegal short-selling cases in the first year since launching a real-time monitoring system and referred them to authorities for investigation. The Korea Exchange (KRX) detected the cases through its naked short selling detection system (NSDS), introduced on March 31 last year, when the country resumed short selling in the local market, the bourse operator said. According to Yonhap News Agency, 68.4 percent of the detected cases were valued at less than 100 million won each (US$65,823). Under the NSDS system, an average of 15 million short-selling transactions had been monitored each day. The total value of short-selling transactions over the past year till last Friday stood at 289.3 trillion won. Of them, 91.3 percent, or 264.2 trillion won, involved 24 financial institutions participating in the NSDS, the KRX added. Meanwhile, the daily average short-selling transaction value rose from approximately 170 billion won in Februar y to around 240 billion won this month, according to the KRX. South Korea's benchmark Korea Composite Stock Price Index (KOSPI) experienced sharp volatility this month, plunging more than 12 percent in a single day before rebounding, amid the ongoing conflict in the Middle East.
