Kospi fades below 7,600 after morning highs

Seoul's benchmark Kospi quickly reversed course Friday after briefly crossing the historic 8,000 mark, falling below 7,600 as foreign investors deepened profit-taking in chip stocks. The Kospi was trading below 7,550 at around 2 p.m., down over 5 percent from the previous close. After opening lower at 7,951, the index quickly climbed past 8,000 for the first time in its history about 15 minutes into trading, rising as high as 8,046.78. The milestone came in a rush, with the Kospi taking just sev

By The Korea Herald