South Korean ADRs, ETFs slide as President Yoon declares martial law

Korea Electric Power

03/12/2024 14:46

(Updates)
    ** Most U.S.-listed shares of South Korean companies and
exchange-traded products linked to the country fall as President
Yoon Suk Yeol declares martial law in an unannounced late night
address
    ** Korea Electric Power Corp (KEPCO)  KEP.N , SK Telecom
 SKM.N , e-commerce company Coupang  CPNG.N , KT Corp  KT.N , LG
Display  LPL.N  down between 2.2% and 5.7% 
    ** iShares MSCI South Korea ETF  EWY.P  declines 4.4% to
$54.26 and Franklin FTSE South Korea ETF  FLKR.P  drops 3% to
$18.3. Both hit over two-year lows
    ** Financial stocks KB Financial Group  KB.N  falls 2.5% and
Shinhan Financial Group  SHG.N  slips 1.6%
    ** South Korean won  KRW=  dropped to as low as 1,429.72 won
per dollar, a more than two-year low
    


 (Reporting by Shashwat Chauhan and Ankika Biswas in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))