The Japanese and Korean stock market fell by 5%

ON 8 JULY, CLOSINGS ON 8 JULY (MONDAY) FELL BY 1437.91 POINTS, OR 2.11 PER CENT, BY 225 PER DAY, REPORTING 66819.05 POINTS. THE KOREAN KOSPI INDEX, WHICH DROPPED 409.53 POINTS ON 8 JULY (ON WEDNESDAY) AND FELL BY 5.35 PER CENT AND REPORTED 7246.78 POINTS, HAD TRIGGERED A “TEMPORARY CUT-OFF” MECHANISM AT ONE TIME AND WAS NOW ABOUT 20 PER CENT HIGHER THAN IN JUNE, APPROACHING THE TECHNICAL BEAR MARKET. KIM XIAN