[Featured Stocks] Naver and Kakao, How Far Will the Fall Go... Both Hit New Lows

[Asia Economy Reporter Lee Seon-ae] Domestic stock market representative growth stocks Naver (NAVER) and Kakao are falling as they both hit new intraday lows on the 19th. Securities firms predict that with increased volatility in the stock market ahead of this week's U.S. Federal Open Market Committee (FOMC) meeting and tightening measures, investor sentiment toward growth stocks will further deteriorate.

At 9:48 a.m. on this day, Kakao was trading at 66,000 won, down 1.35% from the previous trading day. Early in the session, it fell to 65,700 won, setting a new intraday low. Naver recorded a 0.23% decline to 219,500 won. During the session, the stock price dropped to 218,000 won, breaking the previous intraday low (219,500 won).

It is widely expected that the FOMC will raise the benchmark interest rate by at least 75 basis points this week. As tightening accelerates, concerns are growing that growth stocks may face difficulties in future fundraising.

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