Korean Shares Decline Below 1700 pt Level on Global Recession
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- Korean Shares Decline Below 1700 pt Level on Global Recession
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저작자 미상 (저작물 2267374 건)
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- 2011-09-23
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UCI 로고
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Seoul's shares nosedived 5.73 percentage points on Friday to break the significant 1700 point level the biggest daily percentage loss in 5 weeks with foreign investors taking flight amid growing debt problems in Europe and an increasingly grim U.S. and Chinese economic outlook.
The benchmark Korea Composite Stock Price Index plunged 103.11 points to close at 1‚697.44 the lowest close nearly 15 months.
Most shares ended in the negatives led by a sell-off by foreign investors who sold more than 670 billion won or roughly 570 million US dollars worth of shares on Friday.
Crude oil refiners‚ shipbuilders and carmakers took the hardest hit.
Meanwhile‚ Asian stock markets were not spared either.
Stock markets in Taiwan and Thailand fell more than 3 percentage points‚ while indexes in Hong Kong and Singapore fell around 1 percent.
Japan's stock market was closed for a holiday.
Currency wise‚ the Korean won fell to a one-year low and joined the steep decline in Asian currencies this week by dropping 4.7 percent over the week to close at 1‚1-hundred-72 against the dollar.
[Interview : Kim Han-ul‚ chkim@arirang.co.kr] "But stock experts say even with the foreign investors taking flight‚ a radical pull out is unlikely because of to the weakening Korean won.
Kim Han-ul‚ Arirang News."
Reporter : chkim@arirangtv.com
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