Korean Stocks Fell On Monday

. On Monday (20th), the KOSPI index fell 0.14% (2.99 points) and closed at 2,198.20 points.

As of today, foreign investors have sold more than KRW 133.9 billion in Korean shares.

The EU summit started last Friday (17th) and the meeting was extended to Monday, but it still failed to reach a consensus on the 750 billion euro recovery fund.

European Executive Council Chairman Charles Michel called on leaders of all countries to complete “impossible tasks.” The situation is still unclear. Diplomats said that this summit may return without success and will be postponed until next month.

Many states in the southern and western United States have re-implemented blockade orders to curb the epidemic, and this week the US Congress will discuss a new round of bail-out plans.

Recently, the number of newly diagnosed cases in Florida, California, Texas and other places in the United States has changed to an unprecedented high in the past few days. The number of infected people in the United States has reached 3.7 million, ranking first in the world. Brazil, India, and Russia rank second, third, and fourth, respectively. The number of people diagnosed in the United States is almost the sum of the number of people diagnosed in these three countries.

The housing prices in Seoul keep rising, and outsiders call for relaxing the development restrictions of the green belt in Seoul and building new houses. South Korean President Wen Jae-yin rejected the proposal and decided not to lift the development restrictions on the green belt.

In terms of individual stocks, Internet giant Naver tumbled 4.71% and Kakao tumbled 4.62%.

Blue chip stocks Samsung Electronics fell 0.37% and SK Hynix fell 0.84%.

 

Reviewer overview

  Korean Stocks Fell On Monday - /10

Summary

. On Monday (20th), the KOSPI index fell 0.14% (2.99 points) and closed at 2,198.20 points.

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