KOSPI Turns Down... Back to the 1600s

Started with a 4% Increase but Turned to a Downtrend in the Afternoon

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which opened more than 4% higher than the previous day at the market opening, turned to a downward trend and fell back to the 1600 level.

According to the Korea Exchange on the 27th, as of 2:19 PM, the KOSPI is showing 1668.83, down 1.01% from the previous day. This contrasts with the opening at 1756.07, up 4.14% from the previous day.

It briefly dropped to the 1600 level around 11:18 AM but then rebounded to reach 1725 near 1 PM. However, it soon continued to decline and settled back to the 1660 level.

The KOSDAQ also turned downward. At the same time, it recorded 506.33, down 1.99% from the previous day. After opening at 535.94, up 3.74% from the previous day, and rising to the 540s, it began to decline after 1 PM.