ID :
47268
Tue, 02/24/2009 - 11:28
Auther :
Shortlink :
https://www.oananews.org//node/47268
The shortlink copeid
Seoul shares tumble on Wall Street setbacks
SEOUL, Feb. 24 (Yonhap) -- South Korean stocks started sharply lower Tuesday as investors were spooked by overnight plunges in U.S. markets, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 37.1 points, or 3.37
percent, to 1,062.45 in the first 15 minutes of trading.
The downswing comes after Wall Street plunged Monday amid growing uncertainty
over the government rescue plans for the troubled financial sector. The Dow Jones
industrial average sank 3.41 percent, while the tech-heavy Nasdaq composite slid
3.71 percent.
The local currency was trading at 1,511 won to the U.S. dollar as of 9:15 a.m.,
down 22 won from Monday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 37.1 points, or 3.37
percent, to 1,062.45 in the first 15 minutes of trading.
The downswing comes after Wall Street plunged Monday amid growing uncertainty
over the government rescue plans for the troubled financial sector. The Dow Jones
industrial average sank 3.41 percent, while the tech-heavy Nasdaq composite slid
3.71 percent.
The local currency was trading at 1,511 won to the U.S. dollar as of 9:15 a.m.,
down 22 won from Monday's close.
