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Biz News Korea(Eng)

FSS to closely monitor politics-themed stocks from Dec to Feb

Collected: 2016.12.01

Distributed: 2016.12.02

Source: Go Direct

The Financial Supervisory Service (FSS) said Wednesday that it is inviting reports on suspicious stock movements due to political factors for three months from December, offering maximum reward of near $2 million when the tip uncovers illicit activities.

The financial authority has toughened watch on so-called politically-themed stocks on suspicious movements ahead of the presidential election in December 2017. Stocks related directly or indirectly to politicians dubbed as promising candidates to run in the next race have swayed by 32.3 percent since April, compared with 11.8 percent average change in the benchmark indices of main and secondary bourses.

Anyone giving a decisive tip on illegal activities would be rewarded up to 2 billion won ($1.71 million). The watchdog said it handed out 91.95 million won for four relevant reports so far this year.

By Bae Mi-jung

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