South Korean stocks plunged nearly 2.5 percent Wednesday on dampened hopes that the Federal Reserve will start cutting its rates soon and uncertainties over the Chinese economy. The local currency sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index dropped 61.69 points, or 2.47 percent, to 2,435.90. Trading volume was heavy at 950.6 million shares worth 11.01 trillion won ($8.2 billion.
Hanjin KAL, the holding company of the country’s flag carrier Korean Air, is touted as a potential newcomer to the Morgan Stanley Capital International (MSCI) Korea Index, according to financial sources, Sunday.
Preliminary evaluations by the Korea Exchange (KRX), the country s bourse operator, on companies that filed for Kosdaq listing, are surpassing the usual timeline by several months. This delay is attributed to the heightened demand for Kosdaq initial public offerings (IPOs).
Asia report: Nikkei reaches another high as rally continues hl.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hl.co.uk Daily Mail and Mail on Sunday newspapers.
Seoul shares ended lower for a fourth straight day Monday as investors sat on the sidelines ahead of the release of major US economic data, which will give clues on the Federal Reserve's monetary policy direction. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index lost 10.26 points, or 0.4 percent, to close at 2,567.82. Trade volume was slim at 313.6 million shares worth 6.