South Korea's KOSPI opens 3.17% lower on Oct 19, down 3% early on Oct 20
In short
South Korea's KOSPI opened down 3.17% at 5,488.41 on Oct 19, with SK Hynix down more than 4%, then turned up 0.5% during the session. On Oct 20 the index was down more than 1%, then 2%, then 3% in early trading, with SK Hynix down nearly 5%.
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South Korea's KOSPI opened 3.17% lower at 5,488.41 points on Oct 19, CLS and Jiemian reported. Jiemian said SK Hynix fell more than 4% and Samsung Electronics more than 3%. Both outlets said Japan's Nikkei 225 opened 0.77% lower at 64,819.56. At 09:21 CLS reported that the KOSPI had turned up 0.5% during the session, after falling more than 3% at the open at one point. [ 1 , 2 , 3 ]
On Oct 20 the KOSPI fell again. At 08:08 CLS reported that the fall had widened to 2%, with SK Hynix down nearly 4% and Samsung Electronics down nearly 2%. Jiemian reported the same figures at 08:22, after an earlier bulletin that day putting the KOSPI down more than 1%, SK Hynix down 2.5% and Samsung Electronics down nearly 1%. Yicai reported the index down more than 2%. [ 4 , 5 , 6 , 7 ]
By 08:44 CLS reported that the KOSPI's fall had widened to 3%, with SK Hynix down nearly 5% and Samsung Electronics down more than 2%. Yicai also reported a 3% fall, and Jiemian repeated the CLS figures at 08:52. The documents give no cause for the moves on either day. [ 8 , 9 , 10 ]
Why it matters
The documents are short market bulletins and give no cause for the moves. They show two sessions of sharp swings in the KOSPI and in the shares of SK Hynix and Samsung Electronics.
Key facts
- The KOSPI opened down 3.17% at 5,488.41 points on Oct 19. [ 1 , 2 ]
- On Oct 19 SK Hynix fell more than 4% and Samsung Electronics more than 3% at the open, Jiemian reported. [ 2 ]
- Japan's Nikkei 225 opened down 0.77% at 64,819.56 on Oct 19. [ 1 , 2 ]
- CLS reported on Oct 19 that the KOSPI turned up 0.5% during the session after falling more than 3% at the open at one point. [ 3 ]
- On Oct 20 the KOSPI's fall widened to 2%, with SK Hynix down nearly 4% and Samsung Electronics down nearly 2%. [ 4 , 7 ]
- Later on Oct 20 the KOSPI's fall widened to 3%, with SK Hynix down nearly 5% and Samsung Electronics down more than 2%. [ 8 , 9 , 10 ]
Confirmed by several sources
- The KOSPI opened 3.17% lower at 5,488.41 points on Oct 19. [ 1 , 2 ]
- The Nikkei 225 opened 0.77% lower at 64,819.56 on Oct 19. [ 1 , 2 ]
- On Oct 20 the KOSPI's fall widened to 2%, with SK Hynix down nearly 4% and Samsung Electronics down nearly 2%. [ 4 , 7 ]
- On Oct 20 the KOSPI's fall widened to 3%, with SK Hynix down nearly 5% and Samsung Electronics down more than 2%. [ 8 , 10 ]
Still unclear
- Why the KOSPI fell on Oct 19 and Oct 20. None of the documents gives a cause.
- The KOSPI's turn to a 0.5% gain on Oct 19. Only CLS reported it, and it gave no level or reason.
- Where the KOSPI closed on either day. The documents cover only the open and early trading.
What local media are saying
Timeline, local time
- Oct 19: CLS reported the KOSPI opening down 3.17% at 5,488.41 points. [ 1 ]
- Oct 19: Jiemian reported the same open, with SK Hynix down more than 4% and Samsung Electronics down more than 3%. [ 2 ]
- Oct 19: CLS reported the KOSPI had turned up 0.5%. [ 3 ]
- Oct 20: CLS reported the KOSPI's fall widening to 2%. [ 4 ]
- Oct 20: Jiemian reported the KOSPI down more than 1%, then its fall widening to 2%. [ 6 , 7 ]
- Oct 20: CLS reported the KOSPI's fall widening to 3%, with SK Hynix down nearly 5%. [ 8 ]