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March 29, 2024

Seoul shares tumble on growth concerns

PUBLISHED : March 25, 2019 - 16:11

UPDATED : March 25, 2019 - 16:11

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South Korean stocks fell at their steepest rate in five months on March 25 as investors dumped local shares amid fears over a global economic recession. The local currency lost ground against the US dollar.

The benchmark Kospi shed 42.09 points, or 1.92 percent, to 2,144.86. It is the largest daily loss since October 23, 2018, when the index lost 55.61 points. Trade volume was slim at 302.1 million shares, worth 4.05 trillion won ($3.57 billion), with losers sharply outnumbering gainers 742 to 126.

In Korea, foreigners offloaded a net 69.1 billion won worth of local shares, while institutions sold a net 224.2 billion won.

The Korean won traded at 1,134.20 won against the US dollar, down 4.10 won from the previous session’s close.

By Ram Garikipati and newswires (ram@heraldcorp.com)



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