South Korea to Ease Stock Trading in MSCI Developed Status Quest
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South Korea plans to make it easier for foreign investors to trade local stocks as the country seeks the status of a developed nation in MSCI Inc.’s equity indexes.
The Financial Services Commission will introduce a single, so-called “omnibus account” for foreigners trading local stocks, the regulator said in a statement. The change will bring to an end an unpopular rule that currently requires offshore money managers to buy or sell shares through a separate account for each of their funds.