Kospi Reaches Historic 8,000 Points, Then Tumbles
The Korean Kospi stock index briefly surpassed the historic 8,000-point mark for the first time ever before experiencing a sharp decline. Foreign selling was noted as a factor in the subsequent market rout.
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Korean Stocks Tumble After Reaching Milestone as Foreigners Sell - Bloomberg.com
Korean Stocks Tumble After Reaching Milestone as Foreigners Sell Bloomberg.com
Read full article →Kospi's 8,000 milestone gives way to rout
The Kospi's first break above 8,000 lasted less than a day. Korea's benchmark stock index climbed to an intraday record Friday, only to tumble below 7,500 by the close as profit-taking swept through a market that had added 1,000 points in just seven trading days. The Kospi closed at 7,493.18, down 6.12 percent from the previous session and marking its lowest finish of the week. The reversal was sharp. After rising as high as 8,046.78 within the first half-hour of trading, the index quickly fell
By The Korea Herald
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