South Korean Stock Market Plunges 8%, Triggers Circuit Breaker for Eighth Time This Year Amid Renewed Middle East Tensions
Deep News
Jul 13
The Korea Exchange activated a market-wide circuit breaker on Monday, halting trading on the benchmark Korea Composite Stock Price Index (KOSPI) for 20 minutes, following a sharp sell-off triggered by renewed tensions in the Middle East.
The trading halt was initiated around 1:28 PM local time after the KOSPI index plummeted more than 8%.
Investor sentiment turned risk-averse, leading to heavy selling pressure on South Korean equities, as the United States and Iran exchanged attacks over the strategic Strait of Hormuz.
This marks the eighth instance this year that the Korea Exchange has been forced to implement its stock market circuit breaker mechanism.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.