KOSPI Falls to 2540 Level for the First Time in 17 Months

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI is plummeting due to the sharp decline in the U.S. stock market and the impact of the April Consumer Price Index (CPI).

As of 2:59 PM, the KOSPI index stood at 2,548.19, down 44.08 points (1.70%) from the previous day. The KOSPI had risen to as high as 2,591.57 in the morning but then fell sharply to the 2,540 level.

This is the first time since November 20, 2020, that the KOSPI index has fallen to the 2,540 level during intraday trading. Individual investors bought stocks worth approximately 320.3 billion KRW, but foreigners and institutions sold net amounts of 172 billion KRW and 180.9 billion KRW, respectively.

On the 11th (local time), the Dow Jones Industrial Average closed at 31,834.11, down 326.63 points (1.02%) from the previous session. The Standard & Poor's (S&P) 500 index fell 65.87 points (1.65%) to 3,935.18, and the tech-heavy Nasdaq index dropped 373.43 points (3.18%) to 11,364.24. The U.S. April Consumer Price Index (CPI) rose 8.3% compared to the same period last year, exceeding the expected 8.1%.

At the same time, the KOSDAQ index is showing a decline of nearly 4%. It recorded 833.68, down 32.66 points (3.77%) from the previous day. This is the first time since January 28 of this year that the KOSDAQ index has fallen to the 830 level during intraday trading. Individual investors made net purchases worth about 321.1 billion KRW, while foreigners and institutions made net sales of approximately 106.7 billion KRW and 210.5 billion KRW, respectively.

This content was produced with the assistance of AI translation services.