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Korean Banks' default swaps up in Seoul trading today

|Includes: KB Financial Group Inc. (KB), SHG, WF
Credit default swaps on the major Korean banks appear to mostly be up in unison with the shares of those banks falling in Seoul trading today. The CDS rise has been led by the biggest of them KB Financial Group (holding company of Kookmin Bank) which is currently up 12% to 135 basis points. KB, in particular, is subject of preliminary rumours about possible accounting errors although they issued a statement in Korea in response to them denying such things. For more info see here

Disclosure: long all stocks