Kospi closes below 2,300 as market reels from U.S. tariffs

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Kospi closes below 2,300 as market reels from U.S. tariffs

Published: 09 Apr. 2025, 15:49

YOON SO-YEON
[email protected]

The Kospi closes at 2,293.70 on April 9 [SCREEN CAPTURE]

Korea’s benchmark Kospi closed below the 2,300 mark for the first time in 18 months at 2,293.7 on Wednesday, the same day the 25 percent tariffs imposed by U.S. President Donald Trump kicked in.

This was the first time since Oct. 31, 2023, that the Kospi closed below 2,300 — considered a significant demarcation for the Korean economy.

The main bourse breached the threshold at around 1 p.m. and eventually closed at 2,293.7, down 1.74 percent compared to the previous trading day.

The tech-heavy Kosdaq also saw a sharp drop and closed at 643.39, down 2.29 percent from the previous day.

BY YOON SO-YEON [[email protected]]