On the day short selling resumed in the South Korean stock market, stock prices fell significantly, with the KOSPI closing down 76.86 points, or 3%, at 2,481.12. Foreign investors led the index lower, recording over 1.5 trillion won in net selling. The decline in secondary battery-related stocks was particularly noticeable. However, analysts suggest that the larger impact came from the New York stock market’s plunge over the weekend amid fears of stagflation in a recessionary economy, and the spread of risk aversion ahead of the Trump administration’s announcement of reciprocal tariffs. The won/dollar exchange rate broke through the 1,470 won mark, the highest level since March 2009.
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Auto-posted at: 2025-03-31 21:02:20