[Featured Stock] Naver Falls Below 200,000 Won Early in Trading... Hits 52-Week Low for Second Consecutive Day

[Asia Economy Reporter Kwon Jae-hee] Naver (NAVER) fell below 200,000 won early on the 28th, marking a new 52-week low.

As of 9:24 a.m. on that day in the KOSPI market, Naver was trading at 200,500 won, down 1.96% from the previous trading day.

Immediately after the market opened, Naver's price dropped to 198,500 won, extending its decline and setting a new 52-week low for the second consecutive trading day.

Following the intraday low of 199,000 won the previous day, it again lowered its bottom below 200,000 won.

This is interpreted as a deterioration in growth stock investment sentiment due to aggressive interest rate hikes by global central banks, led by the U.S. Federal Reserve (Fed).

Typically, interest rate hikes increase the discount rate on companies' future earnings, which burdens growth stocks.

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