South Korean Stock Market Drops to One-Year Low

South Korean Stock Market Drops to One-Year Low

South Korean stock market shares dropped by slightly over two percent on Monday to reach a one-year low, Yonhap News Agency reported, noting the development came amid increased concern among Asian investors that a global economic recession may be on the horizon.

“The benchmark Korea Composite Stock Price Index (KOSPI) slumped 49.9 points, or 2.04 percent, to close at a fresh 19-month low of 2,391.03 points. The index dipped to an intraday low of 2,372.35 points,” the Seoul-based Yonhap reported on June 20.

Further detailing South Korea’s stock market activity on Monday, Yonhap wrote:

Trading volume was moderate at about 583 million shares worth some 9 trillion won (US$7 billion), with losers outnumbering gainers 585 to 62.

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Foreigners dumped a net 662 billion won,

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