Korea Stocks Drop in Broad Asia Selloff as Short-Selling Resumes
This article is for subscribers only.
South Korean stocks declined on Monday, hurt by broader investor concerns over looming US tariffs just as a 17-month long ban on short selling ended.
The benchmark Kospi Index slid 3% on Monday, adding to its losses from last week as markets brace for US President Donald Trump’s reciprocal tariffs that are slated for April 2. All sectors were in the red, but some stocks linked to the electric-vehicles supply chain — that had been previous targets of short sellers — underperformed. With many of the battery-materials suppliers listed in the Kosdaq Index, the small-cap stock gauge erased year-to-date gains.