Seoul shares dropped sharply by 9% on Monday as investors sold off technology stocks to take profits amidst escalating tensions in the Middle East. The Korean won also weakened against the US dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) fell by 8.95%, closing at 6,806.93 after hitting a low of 6,783.43. Trade volume stood at 469.86 million shares valued at 39.8 trillion won, with decliners outnumbering gainers significantly at 713 to 179.
Institutions and foreigners offloaded shares worth 2.22 trillion won and 1.7 trillion won, respectively, while individuals purchased shares worth 3.9 trillion won.
