South Korea's Deputy Prime Minister for Economy delivered a speech to stabilize market sentiment in the morning, but the country's stock market suffered another heavy blow in the afternoon.
1 hours ago
South Korea's Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mu stated this morning that amid overseas risk shocks, only the stock market has suffered a severe blow, an unusual and rare situation unlike in the past, but the government and central bank have sufficient policy tools to address market volatility caused by external shocks. However, the market did not respond positively to Choi's market-stabilizing remarks. According to Bitget market data, at today's close, South Korea's KOSPI index dropped 302.82 points, a 4.59% decline. Heavyweight stocks SK Hynix fell 10.3% and Samsung Electronics slid 6.3%. After a sharp rebound last Friday, South Korean stocks have seen more losses than gains this week, seemingly on track to enter a new round of gradual decline and deleveraging.
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