The Seoul Stock Exchange falls before the persistent crisis between South Korea and Japan

The Seoul Stock Exchange fell on another day marked by the open diplomatic crisis between South Korea and Japan due to the export restriction implemented by Tokyo in early July, according to local analysts.

The selective Kospi, the main one of the South Korean parquet, harvested a fall of 0.91% or 18.95 points, until situating in 2,072.92 units, whereas the technological index Kosdaq finished with a fall of 1.21% or 8, 14 units, to be in 666.28 integers.

It was of little use that the Bank of Korea (BoK) lowered interest rates by a quarter of a point today, leaving the benchmark at 1.5%.

The Kospi opened marked by the retreat of Wall Street on Wednesday and failed to overcome the flight, in another day marked by the open crisis between South Korea and Japan after Tokyo has imposed restrictions on exports to the neighboring country of basic chemicals for the production of semiconductors.

However, the two main producers of memory chips in the world managed to advance very slightly, after the losses of the last days caused by this crisis.

Samsung Electronics (KS: 005930 ), the world’s leading semiconductor manufacturer and benchmark for the Kospi, gained 0.11% while the second global chip producer SK Hynix improved its price by 0.13%.

The pharmaceutical multinational Celltrion lost 2.17% and its competitor Samsung Biologics dropped 0.35%.

Anthony Rankin

I am Anthony Rankin and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions.

I am the driving force behind BPL and a professional daytrader. I will be providing technical analysis of various stocks on BPL.

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