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South Korea Kosdaq halts trading after plunging more than 8%


TRADING in South Korea's Kosdaq, or "young market of leading sectors", was halted temporarily on Friday after the index plunged more than 8 per cent.

The index fell to 594.75, down 52.94 points, or 8.17 per cent in late-morning trade, triggering a 20-minute suspension in trade at 11.55am in Seoul. The index is now trading around 601.83, down 45.86 points, or 7.08 per cent after trading resumed.

The broader market is also weighed down by poor sentiment surrounding global equities markets, with the Korea Composite Stock Price Index (Kospi) trading at 1,826.48, down 35.06 points, or 1.88 per cent.

The Kosdaq (Korean Securities Dealers Automated Quotations) market was launched in July 1996 to provide funds for startup companies and small-medium enterprises in tech-savvy areas such as information technology, bio-technology and culture technology.