Mar 4 β€’ 00:37 UTC πŸ‡°πŸ‡· Korea Hankyoreh (KR)

KOSPI Plummets for Two Consecutive Days, Trading Starts Around 5600

The KOSPI index experienced a sharp drop for the second consecutive day, starting trading at 5592.59, with fluctuations pushing it lower during the morning session.

The KOSPI index opened with a significant decline, dropping approximately 3.44% as trading commenced on October 4th. In intraday trading, the index saw a steep fall reaching as low as 5438.97, leading to a temporary trading halt due to excessive selling pressure. As trading progressed, the index showed signs of recovery, hovering around the 5600 mark as foreign and institutional investors began to purchase shares, stabilizing the market somewhat.

By 9:20 AM, the KOSPI was trading at 5662.85, down 2.07%. Notably, major stocks displayed mixed performances; Samsung Electronics fell slightly while SK Hynix showed some resilience with a slight gain. The volatility seen in both the KOSPI and the KOSDAQ, which opened down 2.25%, reflects broader market anxiety potentially tied to global economic trends and investor sentiment following back-to-back declines.

Additionally, the won-dollar exchange rate also increased by 12.9 won, reaching 1479.0 won, indicating pressures in the currency markets as well. Analysts are observing the market closely as it attempts to stabilize, weighing the implications of these fluctuations on the overall economic environment in South Korea, particularly in advance of forthcoming corporate earnings reports and economic data releases.

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