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S. Korean stocks slump on first day short selling partially resumes Updated: 2021-05-03 14:46:34 KST

South Korean stocks were down on Monday as a ban on short selling was partially lifted.
The benchmark KOSPI was down two thirds of a percent to close at just over 31-27.
The KOSDAQ plunged 2.2 percent to under 962.
The short selling ban was lifted on shares of firms on the KOSPI 200 and the KOSDAQ 150.
The ban was put in place at the start of the pandemic last March, to prevent what some feared would have been an exacerbation of the market crash.
Short selling is when investors sell stocks they have borrowed, betting that the stock will go down in price, and they pocket the difference when they give back the borrowed shares.
Reporter : jhee@arirang.com
KOGL : Korea Open Government License
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