The Korea Composite Stock Price Index fell sharply by 6.37% on the 16th, once again falling below the 7,000 point integer mark and closing at 6820.60 points. The two major stock indexes of Japan's Tokyo stock market also fell significantly on the same day. The South Korean stock market opened sharply lower on the same day and continued to decline due to factors such as the continued escalation of the situation in the Middle East, which raised market concerns about energy supply in the region, and concerns about the re-heating of artificial intelligence concept stocks. At one point, KOSPI fell by more than 7% in the intraday period. Earlier in the day, due to sharp fluctuations in Korea's KOSPI 200 index futures, the Korea Stock Exchange launched a “temporary suspension” measure for the 37th time since this year, suspending programmatic trading sales operations for 5 minutes. Affected by the overnight collapse of SK Hynix American Depositary Receipts in the New York stock market, technology stocks in the South Korean stock market experienced concentrated sell-off on the 16th. Samsung Electronics closed down 8.77%, and SK Hynix closed down 11.53%. Meanwhile, the Bank of Korea sent a signal that it has officially entered the interest rate hike cycle, further intensifying the sell-off sentiment in the market. The Bank of Korea Financial and Monetary Commission decided on the same day to raise the benchmark interest rate from 2.50% to 2.75% and raise interest rates by 25 basis points. Faced with continued sharp market fluctuations, South Korea's financial supervisory authority announced regulatory measures for single-stock open-ended index funds on the same day. According to the plan, the basic deposit required to invest in such products will be raised from 10 million won to 30 million won, and all payments must be made in cash. Additionally, the minimum trading unit for the product has also been increased. The two major stock indexes of Japan's Tokyo stock market also fell significantly on the 16th. The Nikkei 225 Stock Average Price Index closed down 2.79%, and the Tokyo Stock Exchange stock price index fell 1.45%.
Zhitongcaijing · 1d ago
The Korea Composite Stock Price Index fell sharply by 6.37% on the 16th, once again falling below the 7,000 point integer mark and closing at 6820.60 points. The two major stock indexes of Japan's Tokyo stock market also fell significantly on the same day. The South Korean stock market opened sharply lower on the same day and continued to decline due to factors such as the continued escalation of the situation in the Middle East, which raised market concerns about energy supply in the region, and concerns about the re-heating of AI concept stocks. At one point, KOSPI fell by more than 7% in the intraday period. Earlier in the day, due to sharp fluctuations in Korea's KOSPI 200 index futures, the Korea Stock Exchange launched a “temporary suspension” measure for the 37th time since this year, suspending programmatic trading sales operations for 5 minutes. Affected by the overnight collapse of SK Hynix American Depositary Receipts in the New York stock market, technology stocks in the South Korean stock market experienced concentrated sell-off on the 16th. Samsung Electronics closed down 8.77%, and SK Hynix closed down 11.53%. Meanwhile, the Bank of Korea sent a signal that it has officially entered the interest rate hike cycle, further intensifying the sell-off sentiment in the market. The Bank of Korea Financial and Monetary Commission decided on the same day to raise the benchmark interest rate from 2.50% to 2.75% and raise interest rates by 25 basis points. Faced with continued sharp market fluctuations, South Korea's financial supervisory authority announced regulatory measures for single-stock open-ended index funds on the same day. According to the plan, the basic deposit required to invest in such products will be raised from 10 million won to 30 million won, and all payments must be made in cash. Additionally, the minimum trading unit for products has also been increased. The two major stock indexes of Japan's Tokyo stock market also fell significantly on the 16th. The Nikkei 225 Stock Average Price Index closed down 2.79%, and the Tokyo Stock Exchange stock price index fell 1.45%.