Korean Stock Market Plunges Due to US Economic Woes; Samsung, Others Hit Hard

TapTechNews August 5th news, Yonhap reported that due to the adverse impact of the deterioration of the US economic indicators, the Korea Composite Stock Price Index (KOSPI, calculated by the prices of all stocks traded in the Korea Exchange) broke through 2500 points intraday on the 5th. Among the stocks listed on the KOSPI, 98% of the stocks fell.

As of TapTechNews' posting, the Korea Composite Stock Price Index (KOSPI) is 2441.33, with a decline of 8.78%.

The share price of Samsung Electronics has fallen by more than 10%, hitting the largest decline since 2008. Previously, its largest trade union NSEU called on members to return to work, but said the strike will continue for a long time.

In addition, all stocks in the top 200 by market capitalization showed a downward trend. Large-cap stocks such as SK Hynix (-9.53%), Hyundai Motor (-8.40%), and Kia (-9.34%) also suffered significant declines.