`New York Shock` Stock Price Drops 19 Point

The fall of the stock price in the U.S. stock market has affected the world stock market including Korea.

On the 31st, the total stock index dropped 19.25P resulting in 545.11. KOSDAQ index also dropped 2.99 P resulting in 61.84. The number of companies whose stock price has been dropped was 581, the greatest number in the history, and the total amount of trade has marked the lowest of the year.

The margin of the fall in the stock price has become very large because of the bad conditions of Hynix semiconductors and July announcement of industry decrease as well as the slow down of the U.S. stock market.

Affected from the U.S. stock market, Nikkei index also dropped 224.94 Yen and became 10,713.51 Yen. Since the line of 11000 Yen has fell down, Nikkei index is marking the lowest three days in a low after 17 years. The U.S. Dow Jones Industrial Average also fell down under 10,000. NASDAQ also fell down to 1800. Dow index became 9,919.58 with 171.32 point drop. NASDAQ also fell down to 1,791.68 with 51.49P drop. NASDAQ has fell down to 1900 on the 28th, and to 1800 on the 30th.

Meanwhile, the exchange rate for Won-Dollar was 1278.0 Won, dropped 5.7 won. This was the lowest for 5 month since March 13 (1270 Won). Recently exchange rate for Yen-Dollar fell down to 119 Yen and dollar came out to market with the end of the month.

As professionals foresee that U.S. economic slow down would last for a while, U.S. dollar became weak. The exchange rate was 118.8 yen with one yen drop compared to yesterday.

Lee Jin leej@donga.com