KOSPI Plummets 37.42 Points
The Korea Stock Price Index(KOSPI) plummeted 37.42 points to close at 752.61 on April 29. This sharp fall is the second lowest recorded.KOSPI's fall was due to a large amount of shares including blue chips being sold as investors engaged in profit taking, and the government's announcement that it is considering selling off its stake in Hanvit Bank and Choheung Bank.
In addition, news that the Financial Supervisory Commission(FSC) is going to embark on regulating indirect stock investment funds badly affected the Korea Stock Market.
Foreign investors, who had steadily been buying domestic companies' shares, sold over 120 billion won of contracts on the futures market and more than 20 billion won worth of shares during the day.
Jangsoo Seo:jsbee@joongang.co.kr
with the Korea JoongAng Daily
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