Daily stock settlements slump 30 pct in Q3: KSD

stock settlement-Q3 tally

Daily stock settlements slump 30 pct in Q3: KSD

SEOUL, Oct. 14 (Yonhap) -- The amount of daily stock settlements here plunged in the third quarter of this year from a year earlier amid the sluggish stock market, data showed Friday.

In the July-September period, some 1.34 trillion won (US$939 million) worth of daily stock settlements were made through the Korea Securities Depository (KSD), down 29.6 percent from a year ago, according to the data.

The tally also shrank 11.4 percent from three months earlier.

Over the same period, daily bond settlements dropped 1 percent on-year to 26.7 trillion won.

The decline came as the local stock market has been roiled by aggressive rate hikes at home and in major economies.

On Wednesday, the Bank of Korea (BOK) delivered its second big-step 0.5 percentage point hike in policy interest rates, the eighth increase since August last year.

(END)

(C) Yonhap News Agency. All Rights Reserved