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March 29, 2024

Korea’s stock loans close to record high

PUBLISHED : September 22, 2017 - 10:39

UPDATED : September 22, 2017 - 10:39

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[THE INVESTOR] Investors seem to be preparing for making bets on local stocks with the amount of such stock loans nearing the highest level ever, market data showed on Sept. 22.

The amount of money borrowed to buy stocks, so-called margin debt, reached 8.62 trillion won (US$7.61 billion) as of Sept. 20, close to an all-time high of 8.67 trillion won tallied in July 27, according to the data compiled by the Korea Financial Investment Association.

The figure compares with 6.77 trillion won worth of margin debt at the end of last year and 6.52 trillion won as of end-2015.

The country‘s benchmark index, the KOSPI, has gained some 19 percent so far this year, to end at 2,406.50 points Thursday, after hitting an all-time high of 2,453.27 points on July 25.

Analysts said margin debt may further rise down the road as the country’s stock market is expected to build up further gains, reaching up to the 2,600-point level.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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