KOSPI Falls Over 3%, Breaks Below 1700 Level

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the afternoon of the 1st, the KOSPI fell by more than 3%, breaking below the 1700 mark. As the decline in New York stock index futures widened, the domestic stock market's losses increased as the market closing time approached.

As of 3:11 PM, the KOSPI was trading at 1695.15, down 59.49 points (3.39%) from the previous day. The KOSPI index, which started the day down about 1%, had risen to as high as 1762.44 during the session.

The KOSDAQ also dropped 15.89 points (2.84%) to 552.93. Although it rose more than 1% during the session, the gains narrowed, turning into a decline with losses gradually increasing.