South Korea stocks plunge 8%, circuit breaker triggered as chip shares tumble
South Korea's KOSPI stock index fell more than 8% during early trading on Friday, reflecting a significant sell-off. The stock market decline was primarily driven by losses in technology and semiconductor shares. As a result, a circuit breaker was activated by the Korea Exchange to halt trading temporarily. Experts indicated that the reaction may be an overreaction to recent US midterm election…
On November 6, MSCI Chairman Henry Fernandez stated that the index provider requires concrete evidence of South Korea's regulatory changes to be upgraded to developed-market status. During a conference in Seoul, Fernandez acknowledged the progress made in terms of rules and regulations but emphasized the need to observe these changes being implemented.
He further added that to expedite the process, collaboration among all parties is essential. An upgrade from emerging to developed-market status is a significant policy goal for President Lee Jae Myung. Since his administration began in June 2025, South Korea has implemented market reforms and tax measures aimed at strengthening the domestic stock market.
In pursuit of the upgrade, South Korea has also liberalized its currency market, enabling 24-hour trading. Furthermore, regulators are contemplating additional measures, such as enhancing English-language company disclosures, encouraging higher dividend payouts, and identifying firms with low price-to-book ratios.
Written by urgent.news from CNA - Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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