KOSPI, Kosdaq Circuit Breakers

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Korean equity market

Koreatimes

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KOSPI tumbles over 8% on US recession fears

Summary

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84% Informative

The Korea Composite Stock Price Index (KOSPI) tumbled 8.77 percent from the previous session to close at 2,441.55 points, Monday .

The tech-heavy Kosdaq ended at 691.28 points, down 11.3 percent .

Large-cap Samsung Electronics and SK Hynix shares both saw intraday losses of over 10 percent , a significant drop from their respective previous highs of 88,800 won and 248,500 won in mid-July .

“The extended volatility in the market has been amplified due to fears of a U.S. recession and the geopolitical escalation in the Middle East . Agencies and authorities should maintain close coordination in an around-the-clock monitoring for swift response measures.” The Korean currency traded at 1,374.8 won against the U.S. dollar as of 3:30 p.m. , down 3.6 won from the previous session..

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Informative language

Neutral language

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formal

Language

English

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not offensive

Hate speech

not hateful