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KOSPI Dives Below 650.
(From Korea Times)
The nation's key stock index slid below 650 again yesterday, hitting a fresh year-to-date low of 646.42, as a wobbly Wall Street stoked a sell-off by foreign and institutional investors.
``There were no leading buyers to prop up the market, as sinking U.S. stocks caused investors to scamper out of the domestic market,'' Lee Ji-youl, an analyst at Daishin Securities said.
Following a slump on the U.S. markets, companies relying on overseas sales, such as Samsung Electronics and Hyundai Motor, led the slide. The world's top memory chipmaker fell 3.5 percent to 298,500 won, and the country's biggest automaker skidded nearly 5 percent to 27,900 won.
The Korea Composite Stock Price Index (KOSPI) plunged 17.30 points, or 2.61 percent, closing at 646.42, the lowest level since Dec. 21, 2001. The tech-filled Kosdaq index also dropped, by 1.81 points, or 3.73 ...
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