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KOSPI Closes 1.44% Lower at 2,507.81

Written: 2017-11-27 15:50:53Updated: 2017-11-27 16:39:14

The benchmark Korea Composite Stock Price Index(KOSPI) on Monday fell a whopping 36-point-52 points, or one-point-44 percent, to close the day at two-thousand-507-point-81.

The benchmark index slipped due to heavy losses for Samsung Electronics following analysts’ predictions the memory chip "super cycle" would fade soon. 

The tech-heavy KOSDAQ rose slightly, gaining point-06 point, or point-01 percent. It closed the day at 792-point-80.

On the foreign exchange market, the value of the local currency weakened three-point-two won against the dollar, closing at one-thousand-88-point-six won.

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