Seoul shares dive more than 4% on growth woes
[THE INVESTOR] Korean stocks dived more than 4 percent to an 18-month low on Oct. 11 amid a selling spree across the globe. The local currency also plunged to a one-year low against the US dollar.
The benchmark KOSPI plummeted 98.94 points, or 4.44 percent, to close at 2,129.67, marking the lowest level since April last year. It was the largest daily drop since Sept. 23, 2011, when the index lost 5.73 percent.
Trading volume was heavy at 404.3 million shares worth 8.2 trillion won (US$7.17 billion), with losers beating winners 865 to 23.
The Korean currency closed at 1,144.40 won against the US dollar, down 10.40 won from the previous trading session.
By Song Seung-hyun and newswires (firstname.lastname@example.org)