KOSPI falls 1.92% to close at 2,144.86 on Monday
- 5 years ago
코스피 R의 공포에 2,140대 '털썩'…코스닥도 2%대 급락
South Korean stocks closed lower on Monday... on concerns over slower global economic growth.
In fact, it was the worst day for Korean stocks since last October.
Our Ko Roon-hee has the numbers.
In Monday's session, Korea's benchmark KOSPI closed at around 21-45,... down more than 1-point-9 percent.
It was the biggest decline in 5 months.
In the morning, it stayed above 21-50... but fell later on.
Analysts pointed to uncertainties abroad... including the United States.
Last week, the Federal Open Market Committee -- the policy arm of the Fed, kept its benchmark interest rate unchanged.
Fed Chairman Jerome Powell said... the American economy will grow at a solid pace in 2019, although likely slower than in 2018...raising concerns about global growth.
Another reason came from Germany.
"Last week, data showed that German manufacturing has recently contracted. Also, Germany's 10-year bond yield slipped below zero for the first time since 2016. This signals that people are looking for safety as concerns rise about slowing economic growth."
The analyst added that these uncertainties hit stocks in the U.S. and Europe ...which in turn spooked investors in Korea.
Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-27... also down 2-and-a-quarter percent.
This analyst does not predict a big fall in the coming days... but says stocks will hit bottom sometime in the 2nd quarter... and rebound afterwards.
Meanwhile, the Korean currency closed at around 1-thousand-1-hundred-and-34 won against the U.S. dollar, up more than 4 won from the previous close.
Ko Roon-hee, Arirang News.
South Korean stocks closed lower on Monday... on concerns over slower global economic growth.
In fact, it was the worst day for Korean stocks since last October.
Our Ko Roon-hee has the numbers.
In Monday's session, Korea's benchmark KOSPI closed at around 21-45,... down more than 1-point-9 percent.
It was the biggest decline in 5 months.
In the morning, it stayed above 21-50... but fell later on.
Analysts pointed to uncertainties abroad... including the United States.
Last week, the Federal Open Market Committee -- the policy arm of the Fed, kept its benchmark interest rate unchanged.
Fed Chairman Jerome Powell said... the American economy will grow at a solid pace in 2019, although likely slower than in 2018...raising concerns about global growth.
Another reason came from Germany.
"Last week, data showed that German manufacturing has recently contracted. Also, Germany's 10-year bond yield slipped below zero for the first time since 2016. This signals that people are looking for safety as concerns rise about slowing economic growth."
The analyst added that these uncertainties hit stocks in the U.S. and Europe ...which in turn spooked investors in Korea.
Korea's tech-heavy, junior index, the KOSDAQ, closed at around 7-hundred-27... also down 2-and-a-quarter percent.
This analyst does not predict a big fall in the coming days... but says stocks will hit bottom sometime in the 2nd quarter... and rebound afterwards.
Meanwhile, the Korean currency closed at around 1-thousand-1-hundred-and-34 won against the U.S. dollar, up more than 4 won from the previous close.
Ko Roon-hee, Arirang News.