The Kospi closed below the 2,300-mark Friday as the index dropped 1.81 percent, or 42.31 points, to 2,290.00 amid mounting fears that the U.S. Federal Reserve’s aggressive tightening could trigger a deepening recession.
Stocks closed down on Thursday, as investors were spooked by growing worries over a global economic recession following the U.S. Federal Reserve's sharp rate hike decision.
Stocks slipped back into negative territory again Wednesday, as investors took to the sidelines ahead of a widely expected sharp rate hike by the Federal Reserve.
Seoul stocks ended their four-day losing streak on Tuesday as investors scooped up oversold stocks ahead of the Fed's policy meeting later this week. The won rose against the dollar.
Stocks dipped by more than 1 percent on Monday, extending their losing streak to a fourth day as market sentiment was dampened by the prospect of another sharp rate hike this week by the U.S. Fed.
Korean stocks closed lower Thursday, paring earlier mild gains, as investors brace for more rounds of rate hikes by the Federal Reserve after strong U.S. inflation data.
A board at Hana Bank in Myeong-dong, Seoul, Tuesday shows the benchmark Kospi closed 2.74 percent or 65.26 points higher than on Thursday. The market has been closed from Friday through Monday due to the Chuseok holidays.
Stocks rallied by nearly 3 percent Tuesday as investors were optimistic ahead of the release of the U.S. inflation data, with eyes on the Federal Reserve's rate-setting policy meeting set for next week. The local currency rose against the dollar.
Shares ended higher Thursday helped by institutional buying amid worries over the Fed's aggressive rate hikes and their impact on the global economy. The won rose against the dollar.
Seoul shares tumbled on Wednesday as foreigners and institutions dumped holdings amid worries over the U.S. Federal Reserve's continued aggressive rate hikes and their impact on the global economy.