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South Korea Becomes World’s Worst Major Equity Market in '19

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South Korean equities overtook those of Malaysia on Tuesday to become the world’s worst major equity market for the year as ongoing trade war with Japan and tensions between the U.S. and China slashed the nation’s earnings outlook.

The benchmark Kospi Index has dropped 6.1% year-to-date compared with 5.1% decline in the FTSE Bursa Malaysia KLCI Index as of 9:58 a.m. in Singapore. China’s yuan sinking beyond 7 per dollar on Monday for the first time in more than a decade fueled fresh offloading of equities in Korea, whose economy relies heavily on export.