KOSPI and KOSDAQ fall around 2% on concerns over economic slowdown

As concerns over a slowdown in our economy grew, both the KOSPI and KOSDAQ closed lower at around 2%.

The KOSPI closed at 2,455.91 today (29th), down 1.95% from yesterday.

Most industries, including semiconductors and automobiles, declined, including Samsung Electronics, the top market cap, which plunged more than 2%.

When the Bank of Korea predicted a dark growth rate of around 1% next year and the year after next, investor sentiment froze, which was largely affected by foreigners selling more than 700 billion won.

KOSDAQ also fell 2.33% to 678.19.

The local currency was trading at 1,394.7 won against the U.S. dollar as of 3:30 p.m., down 0.9 won.