Korea Exchange eases rule on stock buyback for investors: source

SEOUL, May 11 (Yonhap) -- The Korea Exchange, South Korea's main bourse operator, has softened a rule on listed firms when they repurchase certain shares, a source said Monday. According to the source, the Korea Exchange has eased the rule since last Friday. Under the changes, the bourse operator will not impose a summary fine if a listed firm repurchases shares of its stock more than it has reported. This waiver applies when the ratio of the stock buyback is less than 50 percent of what was initially reported. The eased rule came as more listed firms have recently repurchased their own stocks to benefit investors and bolster market confidence, according to the source. This image, captured from Yonhap News TV, shows the stock indexes of the South Korean market. (Yonhap) kdh@yna.co.kr(END)