Seoul stock exchange opens down 2% after martial law bid
A helicopter flies over the National Assembly in Seoul, South Korea, Wednesday, Dec. 4, 2024. (AP Photo/Lee Jin-man)
Updated on December 4, 2024 at 12:52 p.m.
Seoul, South Korea — The Seoul stock exchange fell 2% at the opening Wednesday before limiting its losses in early trading, after President Yoon Suk Yeol briefly declared then lifted martial law overnight.
The Kospi composite index tumbled to 2,450.76 points as trading opened while shares in the country’s biggest company Samsung Electronics slid 3 percent before paring losses about half an hour later to 1.12 percent down.
The Korean won lost 2.5 percent against the greenback overnight to 1,444.09 against the dollar, its weakest level in two years.
It later regained ground at the start of Asian trading, ahead of an extraordinary meeting called by the South Korean central bank to “discuss the situation related to the declaration of martial law and market stabilisation measures.”
Article continues after this advertisementAt 0030 GMT, it was trading at 1,414.49 won against the dollar.
Tokyo’s stocks started the day cautiously, with blue-chip Nikkei down 0.11 percent to 39,205.45 points at the open.
