South Korea to hold emergency market meeting after Kospi plunge
South Korea's Kospi index has plunged about 40% from its June peak, prompting officials to call an emergency market meeting. The government said it would convene urgently to address the turmoil gripping the country's stock market.
South Korea's benchmark Kospi index has fallen roughly 40% from its June peak, marking a sharp correction that has shaken investor confidence. The losses accelerated amid a broader global sell-off in technology and semiconductor stocks.
Government officials announced they would convene an emergency market meeting to address the turmoil. Authorities also said they plan to cap investment in leveraged single-stock exchange-traded funds, a step aimed at curbing what regulators see as excessive speculative trading deepening the decline.
Analysts say it remains unclear whether regulators' efforts to calm the market will restore investor confidence in the near term. The Kospi's volatility is seen as part of a broader tech stock sell-off rippling through other markets in the region.
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