Stocks, currency continue to tumble amid mar...
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The South Korean financial market continues to undergo shock-level declines as political instability intensifies in the country.
The country’s main Kospi index fell 2.79 percent to 2,360.58 on Monday from the previous trading day, while the secondary Kosdaq dropped 5.19 percent to 627.01. It is the first time that the Kosdaq index fell below the 630 level since April 2020, at the height of the Covid-19 pandemic.
Individual investors led the decline, with net selling stocks totaling more than 1 trillion won $698.89 billion in the Kospi market and 301.6 billion won in the Kosdaq market.
In response, Financial Services Commission Chairman Kim Byoung-hwan pledged on Monday to implement a “timely implementation of market stabilization measures prepared by sectors, including a 10 trillion won stock market stabilization fund, a 40 trillion won bond market stabilization fund, and corporate bond and commercial paper purchase programs, as well as foreign currency liquidity provision for securities finance.”
Meanwhile, the Korean won fell 17.8 won against the U.S. dollar from the previous trading day, closing at 1,437.0 won per dollar, the lowest level since October 24th, 2022, when it hit 1,439.7 won.
“We will do our utmost to ensure that all available market stabilization measures are implemented immediately,” Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok said at a macroeconomic and financial policy meeting on the same day, which has been held every day since President Yoon Suk Yeol’s short-lived declaration of martial law during the previous week.
▶ “개념없는 놈, 쟤 빼”…김용현, ‘北원점타격 거부’ 합참의장에 폭언
▶ 직무 배제된 윤석열대통령 월급은?...17일 급여 지급 되나
▶ 오늘의 운세 2024년 12월 10일 火음력 11월 10일
▶ “음료 마시게 하더니 교대로”…13세 소녀 성폭행한 비욘세 남편 ‘충격’
▶ “대한민국 어쩌다가”…깜짝 놀란 외국인들, 이 와중에 사모은 주식 있다는데
The country’s main Kospi index fell 2.79 percent to 2,360.58 on Monday from the previous trading day, while the secondary Kosdaq dropped 5.19 percent to 627.01. It is the first time that the Kosdaq index fell below the 630 level since April 2020, at the height of the Covid-19 pandemic.
Individual investors led the decline, with net selling stocks totaling more than 1 trillion won $698.89 billion in the Kospi market and 301.6 billion won in the Kosdaq market.
In response, Financial Services Commission Chairman Kim Byoung-hwan pledged on Monday to implement a “timely implementation of market stabilization measures prepared by sectors, including a 10 trillion won stock market stabilization fund, a 40 trillion won bond market stabilization fund, and corporate bond and commercial paper purchase programs, as well as foreign currency liquidity provision for securities finance.”
Meanwhile, the Korean won fell 17.8 won against the U.S. dollar from the previous trading day, closing at 1,437.0 won per dollar, the lowest level since October 24th, 2022, when it hit 1,439.7 won.
“We will do our utmost to ensure that all available market stabilization measures are implemented immediately,” Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok said at a macroeconomic and financial policy meeting on the same day, which has been held every day since President Yoon Suk Yeol’s short-lived declaration of martial law during the previous week.
▶ “개념없는 놈, 쟤 빼”…김용현, ‘北원점타격 거부’ 합참의장에 폭언
▶ 직무 배제된 윤석열대통령 월급은?...17일 급여 지급 되나
▶ 오늘의 운세 2024년 12월 10일 火음력 11월 10일
▶ “음료 마시게 하더니 교대로”…13세 소녀 성폭행한 비욘세 남편 ‘충격’
▶ “대한민국 어쩌다가”…깜짝 놀란 외국인들, 이 와중에 사모은 주식 있다는데
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