The biggest weekly drop in KOSPI in 7 months… KOSDAQ is the highest in 11 months

This week, the KOSPI fell the most in seven months.

Also, the KOSDAQ index recorded the biggest weekly drop in 11 months.

According to the Korea Exchange, the KOSPI closed at 3,060.51 yesterday, down 3.5% from 3,171.29 on the 13th.

It was the biggest drop since it fell 5.2% between January 25th and 29th.

The KOSDAQ index fell 7.0% from 1,040.78 to 967.90 in one week, which is the biggest drop since it plunged 9.1% between today (21st) and 25th September last year.

The KOSPI fell below the 3,100 level for the first time in four months, and the KOSDAQ index fell below the 1,000 level for the first time in two months.

In particular, the KOSPI closed 10 of the 14 trading days this month in a downtrend.

The decline was largely affected by the sharp drop in stock prices of Samsung Electronics and SK Hynix due to the expected decline in semiconductor DRAM prices, sluggish economic indicators such as China's industrial production in July, and the US Federal Reserve's suggestion of a possible tapering within the year. 

(Photo = Yonhap News)