Kospi nose-dives below 2,400 mark during Friday trading

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Kospi nose-dives below 2,400 mark during Friday trading

Published: 20 Dec. 2024, 14:24

PARK EUN-JEE
[email protected]

A screen in Hana Bank's trading center in central Seoul shows the Kospi opening on Friday. [YONHAP]

The main Kospi index plunged below the 2,400 mark during intraday trading Friday, while the won continued to stay above 1,450 won.

The Kospi was trading at 2,397.49, down 1.58 percent from the previous day as of 2:23 p.m., as market bellwether tech stocks such as Samsung Electronics and SK hynix lost over 2 percent.

The won also continues its losing streak, trading at 1,450.4 won to the dollar, up 2.4 won or 0.17 percent.

The downbeat markets come as the country is reeling from weak consumer demand and exports, as well as a hawkish U.S. Federal Reserve rate decision.

BY PARK EUN-JEE [[email protected]]