Korea's stock market has suffered a major setback

OWING TO THE SITUATION IN THE MIDDLE EAST, THE KOREAN STOCK MARKET SUFFERED A MAJOR SETBACK, THE KOREAN EXCHANGE LAUNCHED A MELTING MECHANISM FOR THE KOSPI INDEX AND THE KOSPI INDEX COMPONENT STOCK TRADE WAS SUSPENDED FOR 20 MINUTES. AT 1.28 P.M. (UTC+8), THE KOREAN EXCHANGE TRIGGERED A MARKET-WIDE MELTING MECHANISM, AS THE KOSPI INDEX FELL BY MORE THAN 8 PER CENT OVER THE CLOSING PRICE ON THE PREVIOUS DAY. THIS IS THE SEVENTH TIME THE KOREAN EXCHANGE HAS LAUNCHED A MELTING MECHANISM THIS YEAR。