South Korea's KOSPI Index Halts Trading After 8% Plunge
Quick Look
- South Korea's KOSPI index halted trading for 20 minutes on Tuesday after plunging over 8% due to foreign investors selling off tech heavyweights.
- This marks the fourth circuit breaker activation this year.
AI-generated summary
Why It Matters
South Korea's bourse operator activated a circuit breaker for the KOSPI index as stocks crashed due to a slump in tech heavyweights. Trading was halted for 20 minutes.
SEOUL, June 23 (Yonhap) -- South Korea's bourse operator on Tuesday activated a circuit breaker for the benchmark Korea Composite Stock Price Index (KOSPI) as stocks crashed due to a slump in tech heavyweights.
Trading of KOSPI-listed shares was halted for 20 minutes.
The Korea Exchange (KRX) triggered the measure at around 2:33 p.m. after the KOSPI plummeted more than 8 percent from the previous session's close.
The benchmark index came under heavy selling pressure as foreign investors dumped large-cap technology stocks on profit-taking, tracking an overnight slump in U.S. tech shares.
It marked the fourth time this year that the KRX has activated a circuit breaker.
Open Questions
- Will the selling pressure continue?
- What specific tech stocks were most affected?
