In today’s briefing:
- 5 Stocks in Korea Drop Limit Down – Caused by CFD Derivatives Related Margin Call Again?
- SM Entertainment: EXO’s Contract Controversy and Repeated Working Condition Issues
5 Stocks in Korea Drop Limit Down – Caused by CFD Derivatives Related Margin Call Again?
- There were five stocks in Korea that dropped limit down (30%) today. They included Pang Rim, Dongil Industries, Manho Rope & Wire, Taihan Textile, and Dongil Metal.
- The share price decline of these five stocks are similar to the crash in eight stocks in Korea in April which were related to CFD derivatives related margin call selling.
- Domestic securities firms in Korea have been trying to significantly reduce their exposure to CFD related trading and in this process, these sharp drops could be caused by this selling.
SM Entertainment: EXO’s Contract Controversy and Repeated Working Condition Issues
- EXO’s Chen, Baekhyun, and Xiumin filed a complaint to the Fair Trade Commission (FTC) on June 4 against SM Entertainment for “abuse of superior bargaining position.”
- SM Entertainment repeatedly faced sanctions by the FTC for disputes, including controversy and conflicts with another boy band ‘Dong Bang Shin Ki’ (TVXQ)
- The risk to their working conditions continues to increase, with SM Entertainment’s corporate risk currently standing at 4.2, reaching an extreme level.
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