Kospi nose-dives 200 points to plunge below 2,500 mark

Published Modified
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Monday. [NEWS1]
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Monday.

Korea’s main stock index tanked below the 2,500 mark on Monday, falling more than 200 points.

The benchmark Kospi traded at 2,471.27 points as of 2:01 p.m. Monday, down by 204.92 points or 7.66 percent from the previous trading day. 

The Monday plunge marked the biggest drop ever recorded mid-trading in Korea, breaking the previous record of an 184.77 point drop logged on August 9, 2011.  

Foreigners are driving the plunge, selling 1.34 trillion won ($987 million) worth of shares as of 1:10 p.m.

The Korea Exchange activated a sidecar curb at 11 a.m. for five minutes as the market continued the free fall that began at the start of trading.

Update, Aug. 5: Updated number of points dropped. 

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]