Stocks tumble amid COVID-19 pandemic; KOSPI trading temporarily halted Thursday

'코로나19 팬데믹' 여파 국내 금융시장 충격...코스피 사이드카 발동

South Korean stocks plunged yet again Thursday, taking their cue from Wall Street, but also in view of the WHO's declaration that the coronavirus is a pandemic.
At one point, the KOSPI was down 5 percent, triggering a temporary halt to trading.
Yoon Jung-min has the details.
Following the Wall Street turmoil sparked by fears of a COVID-19 pandemic,... South Korea's benchmark KOSPI closed Thursday well below the 1900-mark.
The KOSPI lost 3-point-8-7 percent to end at around 1-thousand-834.
At around 1 PM, it fell as low as 18-08, a decline of 5 percent, which is the daily limit.
That prompted a halt to trading for five minutes,... something that hasn't happened since October 2011 when Greece was facing default.
The tech-heavy KOSDAQ tumbled 5-point-3-9 percent to close at around 563.
This follows the decision Wednesday by the WHO to characterize COVID-19 as a pandemic.
The Korean currency was also weaker, closing at around 12-hundred-6 won against the greenback.
The Bank of Korea announced Thursday, that in February amid the outbreak, foreign investors in Korea have sold an amount worth nearly 2-point-7 billion U.S. dollars.
Wall Street markets on Wednesday saw more historic declines.
The Dow Jones Industrial Average plunged over 5 percent to 23-thousand-553,... which puts it more than 20 percent below the record close set last month.
It has entered bear market territory for the first time in more than a decade... since the markets started to pick after the global financial crisis.
The S&P 500 and the Nasdaq shed nearly five percent each.
Yoon Jung-min, Arirang News.

#economy #KOSPI #Stocks

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