FX.co ★ South Korea Stocks Plunge to 17-Month Low

South Korea's primary index, the KOSPI, experienced a significant decrease of 5.4%, dropping to 2,333 in early trading on Monday. This marks the fourth consecutive session of losses, highlighting growing instability in the financial markets. On Friday, China announced a 34% tariff on all U.S. imports, set to take effect on April 10, as a response to tariffs imposed by U.S. President Trump. Politically, Seoul has provisionally scheduled the presidential election for June 3, following the recent removal of Yoon Suk Yeol due to his brief imposition of martial law, a situation that has further contributed to market volatility. The KOSPI reached its lowest point since November 2023, driven by comprehensive declines across sectors including producer manufacturing, financials, electronic technology, and consumer goods. Major players such as Samsung Electronics fell by 4.1%, while memory-chip manufacturer SK Hynix saw a 6.6% drop, spearheading a widespread sell-off in domestic stocks. Additional significant decliners included Hyundai Motor (-5.9%), KIA Corp. (-5.6%), and LG Energy Solution (-2.3%).