The U.S. inventory Telegram channel operated by Kiwoom Securities, which has maintained the very best subscriber rely amongst securities corporations’ Telegram channels, will stop operations because the Monetary Supervisory Service (FSS) applies restrictions to securities firms’ abroad inventory enterprise practices.
In accordance with the monetary funding business on Dec. 23, the Telegram channel “Kiwoom Securities U.S. Inventory Speak Speak” operated by Kiwoom Securities is scheduled to shut on Dec. 26. Kiwoom Securities introduced by a current discover that “the U.S. Inventory Speak Speak channel service can be quickly suspended to offer higher providers” and acknowledged that “we are going to present separate discover concerning the service resumption timing.”
The channel, established in September 2018, has served as a consultant communication platform amongst retail buyers investing in abroad markets, offering info and content material associated to the US inventory market. As of Dec. 23, the subscriber rely stood at 36,864, the very best amongst Telegram channels operated by home securities corporations.
Evaluation means that the channel suspension stems from the Monetary Supervisory Service’s strengthened abroad inventory advertising and marketing regulation insurance policies, coinciding with the current won-dollar alternate price appreciation section. The FSS introduced on Dec. 19 by its “Interim Outcomes of Abroad Funding Standing Overview and Future Response Course” that it performed on-site inspections concentrating on the highest six securities corporations in abroad funding transactions and the highest two asset administration firms in abroad fairness funds.
The FSS additionally instructed securities corporations to droop abroad investment-related money incentive occasions and ads till the third quarter of subsequent yr. The company concurrently supplied tips advising in opposition to extreme reflection of abroad stock-related efficiency in Key Efficiency Indicator (KPI) programs in the course of the course of of building subsequent yr’s enterprise plans.
These measures coincided with continued instability within the international alternate market. Within the Seoul international alternate market on Dec. 23, the won-dollar alternate price opened at 1,480.0 received, down 0.1 received, and fluctuated inside the 1,480 received vary. At roughly 9:06 AM, it recorded 1,482.3 received, up 1.3 received from the day before today’s closing value. Each the opening value and intraday excessive reached their highest ranges in roughly eight months since April 9, approaching new yearly highs.
Whereas international alternate authorities have repeatedly expressed their dedication to alternate price stability, evaluation signifies that received depreciation strain continues because of overlapping elements together with yen weak spot and import firm settlement demand. The yen-dollar alternate price, which had risen to the late 157 yen vary final week, declined barely to the 156 yen vary following verbal intervention by Japanese international alternate authorities, however continued its weakening development at round 156.88 yen on Dec. 23 as properly.
