S.Korea doubles daily stock price movements limit

Starting today (Monday), South Korea's bourse doubled the daily limit in stock price movements for the first time in 17 years to revitalize the stock market.

The Korea Exchange said it has allowed stocks to rise or decline by up to 30 percent daily on the main KOSPI and secondary KOSDAQ markets.

The Seoul bourse operator began to set the price movements limit in 1995 with a 6 percent cap to prevent excessive volatility. It last changed the rate to 15 percent in 1998 in the wake of the Asian financial crisis.

Analysts expect the wider price range to help boost trading and promote market efficiency.