KOSPI slips below 7,000 as external risks rattle investors
Korea's benchmark KOSPI reversed early gains to close lower Tuesday, as escalating geopolitical and trade tensions dampened investor sentiment. The benchmark KOSPI closed at 6,954.52, down 0.58 percent from the previous session. The index opened 0.72 percent higher and climbed above the 7,170 level in intraday trading, but plunged more than 120 points in the afternoon and gave up its earlier…
South Korea's leading stock market index, the KOSPI, closed below 7,000 points on Tuesday due to mounting external risks that unsettled investors. The index fell 0.58 percent, ending at 6,954.52 points, after temporarily reaching above 7,170 in early trading. While foreign and institutional investors bought shares worth 644.9 billion won and 649.6 billion won, respectively, retail investors sold off 3.05 trillion won, contributing to the downward trend.
SK hynix and Samsung Electronics experienced mixed fortunes, with SK hynix up 0.56 percent to 1,793,000 won and Samsung Electronics down 0.19 percent to 269,500 won. Although the U.S. market was closed, the KOSPI started the day with the same bullish sentiment from the previous session, only to see its gains evaporate as tensions between the U.S. and Iran escalated, driving up oil prices.
Additionally, trade tensions between the U.S. and Canada further dampened investor confidence. President Donald Trump was not mentioned in the report.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- KOSPI slips below 7,000 as external risks rattle investors koreatimes.co.kr
