KOSPI Fell Sharply Below 800 Mark
The Korea Stock Price Index(KOSPI) plummeted 32.83 points to close at 781.41 on May 11, breaking the 800 mark.This sharp fall was due to a large amount of shares automatically being sold by computer programs as the long-term interest rate rose and the overseas market weakened, in spite of the foreign and personal investors strong buying trend.
The overseas market's declining tendency is influenced by the Kosovo situation. In addition to the Kosovo crisis the 7 trillion won large-scale issue of new shares scheduled at the end of June badly affected the Korea Stock Market.
The Dow Jones industrials lost 0.22 percent while Hong Kong stocks dropped 2.23 percent and Japan fell 1.2 percent.
Jooan Kang : jooan@joongang.co.kr
with the Korea JoongAng Daily
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