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
Our starting point is the nation's stock market.
The 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.
SEO Eunkyung has our top story.
Korea's secondary bourse KOSDAQ plunged almost 7-and-a-half percent on Monday... 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.
According to exchange rules, the activation of the sidecar on Monday was the first time since June 24 of 2016.
Korea's benchmark KOSPI also fell.
The index closed on 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.
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 recent Fed cut was less aggressive than some hoped for. U.S. President Trump announced a new 10-percent tariff on 300 billion dollars' worth of Chinese imports starting September 1st. And Japan has decided to remove Korea from its whitelist of trading partners. All these external factors have made investors worry about slow growth, dragging down stock indexes."
Meanwhile, the Korean won surged to 1-thousand-2-hundred-14 won against the greenback, breaking the 1-thousand-2-hundred mark since January, 2017.
Seo Eunkyung, Arirang News.
Our starting point is the nation's stock market.
The 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.
SEO Eunkyung has our top story.
Korea's secondary bourse KOSDAQ plunged almost 7-and-a-half percent on Monday... 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.
According to exchange rules, the activation of the sidecar on Monday was the first time since June 24 of 2016.
Korea's benchmark KOSPI also fell.
The index closed on 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.
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 recent Fed cut was less aggressive than some hoped for. U.S. President Trump announced a new 10-percent tariff on 300 billion dollars' worth of Chinese imports starting September 1st. And Japan has decided to remove Korea from its whitelist of trading partners. All these external factors have made investors worry about slow growth, dragging down stock indexes."
Meanwhile, the Korean won surged to 1-thousand-2-hundred-14 won against the greenback, breaking the 1-thousand-2-hundred mark since January, 2017.
Seo Eunkyung, Arirang News.