Global Stocks In Red Amid Uncertainty Over US Monetary Policy

Seoul: In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower. Equity markets in Europe were trading in the negative territory. Wall Street ended on a mixed note on Thursday.

Seoul shares fell more than one per cent on Friday amid concerns over a slower monetary easing cycle in the United States, along with the aftermath of President Yoon Suk Yeol’s short-lived martial law declaration this month.

The Korean won also continued to hover around 1,450 won per US dollar for two straight sessions, the lowest level in 15 years.The benchmark Korea Composite Stock Price Index (KOSPI) plunged 31.78 points, or 1.3 per cent, to close at 2,404.15. It fell below the 2,400 threshold at one point during the session, reports Yonhap news agency.

The trade volume was moderate at 606.4 million shares worth 9.12 trillion won (US$6.28 billion), with losers outnumbering winners 703 to 204.Foreigners and institutions dumped local shares worth 817 billion won and 89.1 billion won, respectively, while retail investors bought a net 790 billion won.