Kospi nose-dives 200 points to plunge below 2,500 mark
Published: 05 Aug. 2024, 13:21
Updated: 05 Aug. 2024, 14:18
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- SHIN HA-NEE
- shin.hanee@joongang.co.kr
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Monday. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/08/05/a2084fe7-de6b-4261-9591-dc3f1632b478.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Monday. [NEWS1]
Korea’s main stock index tanked below the 2,500 mark on Monday, falling more than 200 points.
The benchmark Kospi traded at 2,471.27 points as of 2:01 p.m. Monday, down by 204.92 points or 7.66 percent from the previous trading day.
The Monday plunge marked the biggest drop ever recorded mid-trading in Korea, breaking the previous record of an 184.77 point drop logged on August 9, 2011.
Foreigners are driving the plunge, selling 1.34 trillion won ($987 million) worth of shares as of 1:10 p.m.
The Korea Exchange activated a sidecar curb at 11 a.m. for five minutes as the market continued the free fall that began at the start of trading.
Update, Aug. 5: Updated number of points dropped.
BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
with the Korea JoongAng Daily
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