South Korean stocks tumbled on Tuesday, declining below the 5,800 level as escalating geopolitical tensions from the ongoing Middle East conflict dragged down investor sentiment.
The Korea Composite Stock Price Index or Kospi decreased by 452.22 points, or 7.2%, to finish at 5,791.91. The Kosdaq fell by 55.08 points, or 4.6%, to end at 1,137.7.
In economic news, South Korea's manufacturing sector continued to expand in February, albeit slowly, with the seasonally adjusted headline S&P Global South Korea Manufacturing Purchasing Managers' Index edging down to 51.1 last month from 51.2 in January, S&P Global said in a Tuesday report.
A reading above 50 indicates an overall increase compared with the previous month, and below 50 indicates an overall decline.
In corporate news, shares of Daehan Shipbuilding (KRX:439260) fell nearly 4% at market close on Tuesday after the company disclosed the suspension of heavy load handling operations at its number one fabrication plant in Yeongam County, South Jeolla Province, following an industrial accident.
精彩评论