Investors' Risk Appetite Remains Weak
The daily turnover of South Korea's stock market sank to a 10-month low in September.
The daily transactions on the main KOSPI and secondary KOSDAQ markets averaged 8.49 trillion won (US$7.07 billion) last month, according to the data released by Korea Exchange (KRX) on Oct. 1. It marked the lowest level since November last year when the average daily trading volume stood at 8.42 trillion won (US$7.01 billion).
The average daily turnover of the KOSPI and KOSDAQ markets came to 4.52 trillion won (US$3.76 billion) and 3.97 trillion won (US$3.31 billion), respectively, last month. The KOSDAQ market shrunk more than the main KOSPI market.
The KOSPI market's daily transaction volume in September was higher than that in July (4.43 trillion won, US$3.69 billion) when the figure hit a record low for the first time in two years and six months due to the bearish market. However, the average daily transactions on the KOSDAQ market decreased in September compared to the 4.16 trillion won (US$3.47 billion) in July or August.
The stock market showed slow trading last month as the daily turnover fell early September and investors' appetites for risky assets remained weak amid economic uncertainties at the end of the month, with the stock market slump in August.