KOSPI Falls Below 2130... Lowest Level of the Year
Fell to 2122.51 During Trading... KOSDAQ Also Declines
Concerns Over Economic Slowdown Rise Due to Wuhan Pneumonia Impact in China
An ambulance is leaving Seoul Gimpo Airport on the morning of the 31st, when Korean residents arrived from Wuhan, China, which was locked down as the origin of the novel coronavirus infection. Photo by Hyunmin Kim kimhyun81@
View original image[Asia Economy Reporter Minwoo Lee] The domestic stock market is showing a downward trend due to adverse factors such as 'Wuhan pneumonia (novel coronavirus infection)'. The KOSPI index has fallen below 2130, marking the lowest point of the year.
At around 3:02 PM on the 31st, the KOSPI index dropped to 2129.89, down 18.11 points (0.84%) from the previous session. This is the first time the 2130 level has been breached since December 11 last year. It started the day at 2160.60, up 12.60 points (0.59%) from the previous session, showing an upward trend in the morning, which contrasts with the afternoon. As of 3:13 PM, it had fallen further to 2122.51.
In particular, foreign investors focused on selling. By 3:13 PM, foreigners had net sold 346.5 billion KRW in the KOSPI market. This contrasts with individuals and institutions who net bought 237.2 billion KRW and 133.7 billion KRW, respectively.
The KOSDAQ index is also on a downward trend. At the same time, it recorded 642.20, down 2.16% (14.19 points) from the previous day. Foreigners continued their selling trend in the KOSDAQ market as well, net selling 23 billion KRW. Meanwhile, individuals and institutions net bought 1.9 billion KRW and 32.9 billion KRW, respectively.
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As the novel coronavirus spreads, there is an analysis that the whole world is engulfed in anxiety, causing economic slowdown. Earlier, the World Health Organization (WHO) declared a 'Public Health Emergency of International Concern (PHEIC)' regarding the novel coronavirus infection on the 30th (local time). According to WHO, the number of confirmed cases of novel coronavirus infection worldwide has reached 7,834. Among them, 7,736 cases are confirmed in China. The 7th confirmed case was also discovered domestically on the same day.
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