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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] The "Dollar-denominated KOSPI" has fallen to levels seen over two years ago, primarily due to the sharp rise in exchange rates.
According to the financial sector on Wednesday, the dollar-denominated KOSPI index stood at 787.84 as of December 30. This is the lowest level since October 31, 2022, when it recorded 782.15. After peaking at 1009.97 on July 11 last year, the index has been on a downward trend and fell below the 800 mark by the end of last month. In particular, it dropped 7.55% in the previous month, marking the largest monthly decline of last year.
The dollar-denominated KOSPI reflects the KOSPI price adjusted for the won-dollar exchange rate and is a key reference indicator for foreign investors.
The exchange rate surged in the fourth quarter of last year, following the political instability triggered by the December 3 emergency martial law, with the average won-dollar rate reaching 1,398.75, the highest since the first quarter of the global financial crisis in 2009 (1,418.3 won). Last month, the exchange rate started at 1,401 won and surged to 1,472.5 won, leading to the steep decline in the dollar-denominated KOSPI.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
