KOSPI 2,400 · KOSDAQ 670 Collapse on 'foreign selling'

KOSPI collapses 2,400 during the day on net selling of foreigners and institutions
KOSDAQ plunges more than 2% and collapses 670 during the day
Stock markets 'rebounded' by martial law, impeachment and US FOMC shock

[Anchor]
Our stock market, which plunged in the wake of the U.S. FOMC's "hawkish interest rate cut," has been falling for two consecutive days.

The KOSPI fell to 2,400 points and the KOSDAQ index fell to 670 points during the day due to the simultaneous selling of foreigners and institutions.

I'll connect you with a reporter to find out more.

Reporter Ryu Hwan Hong, what is the current stock price like?

[Reporter]
The decline in the KOSPI and KOSDAQ indexes is deepening due to net selling by foreigners and institutions.

In the stock market, the Kospi opened 0.26 percent lower at 2,429.63.

During the day, the drop deepened by nearly 2%, breaking the 2,400 mark.

Although they are making net purchases alone, foreigners and institutions are struggling with net sales.

On the KOSDAQ market, the tech-heavy KOSDAQ index started at 684.79, up 0.06 percent.

However, it fell straight and fell more than 2%, breaking the 670 level in the day.

In the KOSDAQ market, foreigners and institutions are also net selling together.

The Korean stock market is reeling from the internal shock of martial law and impeachment and the external shock of the US FOMC's "hawkish interest rate cut."

[Anchor]
Is the dollar exchange rate still around 1,450 won?

[Reporter]
For the second day, the won-dollar exchange rate, which started from the 1,450 won range, has repeatedly risen to the 1,440 won range and risen again to the 1,450 won range.

The dollar continues to strengthen as the U.S. third-quarter GDP confirmation released last night and the number of new unemployment claims are better than expected.

The dollar index, which represents the value of the dollar against currencies of six major economies, including the euro and yen, was up 0.09%, or nearly 0.1%, from the previous day.

As the exchange rate soared, the government and the Bank of Korea announced measures to improve the supply and demand of the foreign exchange market, including raising the "Futures Position Limit" of foreign exchange banks.

Until now, Koreans could not borrow dollars and exchange them into won, but they have also lifted regulations on this.

The national pension and foreign exchange swap limits will also be increased from $50 billion to $65 billion and the period will be extended until the end of next year.

It also hinted at direct market intervention with foreign exchange reserves of more than $410 billion, the world's ninth-largest.

We are interested in whether such efforts by the foreign exchange authorities will stabilize the exchange rate.

I'm YTN's Ryu Hwan Hong.