KOSPI Drop Seen by NPS Chair as Possible Short-Term Correction

South Korean stocks closed lower on the 15th, but Kim Sung-joo, chair of the National Pension Service, placed weight on the possibility that the KOSPI’s turn lower was a short-term correction. Speaking with Maeil Business Newspaper that day, Kim addressed the KOSPI’s move and suggested, from the perspective of reading a stock chart, that the sharp fall should not necessarily be judged as a long-term trend reversal. The original headline stated, “The KOSPI plunge is a short-term correction, pausing before rising again,” conveying a message that the recent decline should be viewed calmly. The information in the article is limited to the market’s lower close and Kim’s short-term correction assessment. Source: mk.co.kr