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KOSPI Dives for 5th Day in Row

Written: 2020-03-17 15:53:59Updated: 2020-03-17 16:04:30

KOSPI Dives for 5th Day in Row

Photo : YONHAP News

The South Korean stock market shed nearly two-point-five percent on Tuesday following an overnight U.S. stock market crash.  

The benchmark Korea Composite Stock Price Index(KOSPI) fell 42-point-42 points, or two-point-47 percent. It ended the day at one thousand-672-point-44. The index began the day’s session at one-thousand-640-point-84 points, which was 74-point-02 points, or four-point-32 percent, lower than Monday’s closing. 

The Dow Jones Industrial Average on Monday dropped two-thousand-997-point-10 points, or 12-point-93 percent, logging its steepest loss since October 1987. 

It was the fifth consecutive day the KOSPI headed south and came a day after the Bank of Korea(BOK) cut its key interest rate by half a percentage point to zero-point-75 percent.

The tech-heavy KOSDAQ grew, gaining ten-point-22 points, or two-point-03 percent, to close at 514-point-73.

On the foreign exchange, the local currency weakened 17-point-five won against the dollar, ending the session at one-thousand-243-point-five won.

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