Bourse mirrors high volatility in world markets
Korea’s main stock market experienced more daily fluctuations this year than last, according to the local bourse operator yesterday. Many advanced stock markets, including in the United States, also showed stronger volatility this year, it said.The Korea Exchange said in a press release that an indicator measuring daily volatility on the Kospi index was 1.4 percent this year as of last week, up from 1.2 percent last year.
A 1.4 percent daily volatility means the index moved on-day within a range of plus or minus 1.4 percent of the previous trading day’s close.
The corresponding figure on the U.S. Dow Jones industrial average rose from 0.6 percent last year to 0.9 percent this year, the Korea Exchange said.
Britain’s FTSE 100, France’s CAC 40 and Hong Kong’s Hang Seng rose from 0.8 percent to 1.1 percent, from 0.9 percent to 1.1 percent and from 0.9 percent to 1.8 percent, respectively.
“Global [stock] markets showed similar strong fluctuations this year,” said Kim Joo-hyeong, an analyst at Tongyang Investment and Securities, “amid the clash between ever-higher investor expectations for stock market rallies and high concern over discouraging economic factors, including the U.S. subprime mortgage crisis and rising oil prices.”
By Moon Gwang-lip Staff Writer [joe@joongang.co.kr]
with the Korea JoongAng Daily
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