KOSPI plunges 12.06% on ‘Iran crisis’…biggest points drop on record
JOON HYOUNG LEE
Summary
- It reported that fears of a prolonged ‘Iran crisis’ pushed South Korea’s financial markets into panic.
- It reported that the KOSPI tumbled 698.37 points (12.06%), marking an all-time high in both the one-day percentage decline and the points drop.
- It said the KOSDAQ index also closed at 978.44, down 14.00%, posting an all-time high in the one-day percentage decline.
Forecast Trend Report by Period
Mounting fears that the Iran crisis could drag on sent South Korea’s financial markets into panic.
On the 4th, the KOSPI closed at 5,093.54, down 698.37 points (12.06%) from the previous session. In point terms, it marked the largest drop on record for a second straight day. The one-day percentage decline was also the biggest ever.
The KOSDAQ ended at 978.44, down 159.26 points (14.00%) from the prior session. The KOSDAQ’s one-day percentage drop also set a record.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
