KOSPI opens lower on Thursday morning after U.S. stocks fall
  • 5 years ago
South Korea's benchmark KOSPI on Thursday fell to its lowest level this year... after U.S. stocks plunged the previous day.
For more, our Ko Roon-hee is on the line for us.
Roon-hee, tell us the latest.

Mark, Korea's benchmark KOSPI opened lower on Thursday... at around 20-46. This is almost 2-point-5 percent down from yesterday's close.
This is the first time that the index was below the 20-50 level since January last year.
And on Wednesday, the KOSPI closed below 21-hundred points, its lowest close since March last year.
The tech-heavy KOSDAQ also nose-dived by almost 3-percent on Thursday.

So, what is the reason for the fall? How did the U.S. markets do on Wednesday?

Mark...all major indices on Wall Street fell on Wednesday...with some even wiping out gains made over the past year.
The Nasdaq dropped nearly 4-point-5 percent... losing more than 3-hundred-and-29 points.
It was the worst performer... and had its biggest single-day slide since August 2011.
The Dow Jones Industrial Average shed close to 2-point-5 percent or more than 6-hundred points.
The S&P 500 dropped over 3-percent, or nearly 85-points.
The Dow Jones Industrial Average and S&P 500 erased all of their gains for 2018.
Analysts say uncertainties about the local and global economy have led to this massive sell-off.
For instance, investors have been worried about disappointing earnings reports from U.S. companies and the upcoming U.S. midterm congressional elections.
And of course, there are continuing worries over the trade war between the U.S. and China.
That's all from me at this hour Mark.
Recommended