Arab Today, arab today investors pull out record funds amid cheil industries subscription in korea
Last Updated : GMT 20:44:37
Arab Today, arab today
Arab Today, arab today

Investors pull out record funds amid Cheil Industries subscription in Korea

Arab Today, arab today

Arab Today, arab today Investors pull out record funds amid Cheil Industries subscription in Korea

A glove production line
Seoul - Yonhap

More than 5 trillion won (US$4.52 billion) drained out of the country's money market funds (MMFs) earlier this week, data showed Friday, as investors used it for deposit money to subscribe to Cheil Industries Inc.'s IPO (initial public offering) stocks.
The net asset value of MMFs stood at 90.5 trillion won as of Tuesday, down 5.66 trillion won from the previous day, according to data compiled by the Korea Financial Investment Association (KOFIA). The change in the figure marks the largest day-to-day slump since KOFIA began collecting such data in 2006.

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