Korean stocks closed sharply lower to hit a more-than two month low on Jan. 2 as gloomy economic data threw a wet blanket over the first day of trading of 2019. The local currency declined against the US dollar.
The benchmark KOSPI dropped 31.04 points, or 1.52 percent, to end at 2,010. This is the lowest closing price since Oct. 29, when it finished at 1,996.05.
Trade volume was light at 321.8 million shares worth 4.24 trillion won (US$3.79 billion), with decliners outnumbering gainers 610 to 234.
The Korean won closed at 1,119 won against the US dollar, down 3.30 won from the previous session’s close.
By Song Seung-hyun and newswires (email@example.com