Black Monday on Korea's stock market..major Asian stock markets also plunge
- 5 years ago
블랙먼데이...코스닥 사이드카 발동 주요 아시아 주가 일제히 하락
We begin with Korea' stock market.
Seoul's benchmark KOSPI and tech-heavy KOSDAQ plunged to a three-year low today as trade tensions between Korea and Japan intensify.
The secondary bourse also had to halt trading during the day as the index fell below 600.
Our SEO Eunkyung reports.
South Korea's benchmark KOSPI closed Monday at just under 19-47, losing two-point-five-six percent.
During trading, it fell below 19-46, the lowest figure in two years and nine months.
The KOSPI had fallen below the 2-thousand-point mark last Friday for the first time in seven months.
The KOSDAQ, Korea's secondary market, plunged almost 7-and-a-half percent... to 569-point-7-9, the lowest level since January of 2015.
Once it had fallen more than 5 percent, the Korea Exchange triggered a cool-off period known as a sidecar, during which all program trading is halted for 5 minutes.
But the sell-off continued.
"The worsening global trade environment has affected the Korean stock market to some degree. However, if you compare the KOSPI and the KOSDAQ, the KOSDAQ was down more. After all, market concerns about companies' future performances, especially bio technology companies such as SillaJen were reflected in this big drop on the KOSDAQ."
It wasn't just Korean stocks that suffered. Major indexes in Asia were also down significantly.
China's benchmark Shanghai Composite fell more than one-point-six percent to around 28-22 while Japan's Nikkei and Hong Kong Hang Seng Index were down one-and-three-quarters-percent and a little over two-point-eight percent, respectively.
The expert points outs all the external factors that have investors worried about slower growth, including a Fed rate cut that was less aggressive than some hoped for, President Trump's announcement of a new 10-percent tariff on 300 billion dollars' worth of Chinese imports starting September 1st and Japan's removing South Korea from its whitelist of trading partners.
Seo Eunkyung, Arirang News.
We begin with Korea' stock market.
Seoul's benchmark KOSPI and tech-heavy KOSDAQ plunged to a three-year low today as trade tensions between Korea and Japan intensify.
The secondary bourse also had to halt trading during the day as the index fell below 600.
Our SEO Eunkyung reports.
South Korea's benchmark KOSPI closed Monday at just under 19-47, losing two-point-five-six percent.
During trading, it fell below 19-46, the lowest figure in two years and nine months.
The KOSPI had fallen below the 2-thousand-point mark last Friday for the first time in seven months.
The KOSDAQ, Korea's secondary market, plunged almost 7-and-a-half percent... to 569-point-7-9, the lowest level since January of 2015.
Once it had fallen more than 5 percent, the Korea Exchange triggered a cool-off period known as a sidecar, during which all program trading is halted for 5 minutes.
But the sell-off continued.
"The worsening global trade environment has affected the Korean stock market to some degree. However, if you compare the KOSPI and the KOSDAQ, the KOSDAQ was down more. After all, market concerns about companies' future performances, especially bio technology companies such as SillaJen were reflected in this big drop on the KOSDAQ."
It wasn't just Korean stocks that suffered. Major indexes in Asia were also down significantly.
China's benchmark Shanghai Composite fell more than one-point-six percent to around 28-22 while Japan's Nikkei and Hong Kong Hang Seng Index were down one-and-three-quarters-percent and a little over two-point-eight percent, respectively.
The expert points outs all the external factors that have investors worried about slower growth, including a Fed rate cut that was less aggressive than some hoped for, President Trump's announcement of a new 10-percent tariff on 300 billion dollars' worth of Chinese imports starting September 1st and Japan's removing South Korea from its whitelist of trading partners.
Seo Eunkyung, Arirang News.