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.