KOSPI Drops to Yearly Low
The Korea Composite Stock Price Index fell to the lowest point so far this year on Wednesday as foreigners cashed in, ending down 1.12 percent at 2,228.61 points.
The junior Kosdaq also closed down 2.56 percent at a yearly low of 747.5 points.
Foreign investors have been selling W1.79 trillion worth of KOSPI stocks and W335 billion worth of Kosdaq stocks for seven days running (US$1=W1,138).
The capital flights was triggered by the continuing U.S.-China trade war, currency jitters in emerging markets, and surging interest rates on American treasury bonds.