KOSPI Closes Thursday Down 0.48%

Write : 2019-04-25 15:51:08 Update : 2019-04-25 16:51:51

KOSPI Closes Thursday Down 0.48%

The benchmark Korea Composite Stock Price Index(KOSPI) lost ten-point-53 points, or point-48 percent, on Thursday. It ended the day at two-thousand-190-point-50, dipping below two-thousand-200 points for the first time in three weeks after disappointing first-quarter growth results.

The tech-heavy KOSDAQ also fell, losing seven-point-39 points, or point-98 percent, to close at 750-point-43.

On the foreign exchange, the local currency weakened nine-point-six won against the dollar, ending the session at one-thousand-160-point-five won.

It's the first time the won to dollar exchange rate has breached the one-thousand-160-point threshold in two years and three months.

The Bank of Korea reported on Thursday that the country’s gross domestic product is estimated to have shrunk point-three percent in the first three months of 2019. It is the lowest growth since the fourth quarter of 2008 when the economy contracted three-point-three percent in the aftermath of the global financial crisis.

[Photo : YONHAP News]

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