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South Korean stocks plunge despite Wall Street rebound
Updated: 2022-06-22 17:10:51 KST
The South Korean stock market continued to head downward on Wednesday.
The benchmark KOSPI fell two.seven-four percent, closing at a little above 23-40.
This is the lowest close since November 2nd, 2020.
The tech-heavy KOSDAQ plunged by four percent to the lowest point since July, 2020, closing at around 7-hundred-47.
Analysts attribute the drop to massive selling by foreign investors and institutions on expectations of an economic slowdown or recession and high inflation around the world.
Reporter : jy_rachel@arirang.com