KOSPI Drop: NPS Chief Kim Sung-joo Points to Short-Term Adjustment

On the 15th, Korean stocks closed lower, but Kim Sung-joo, chairman of the National Pension Service, placed more weight on the possibility that the KOSPI’s downturn was a short-term adjustment. In a meeting with Maeil Business Newspaper, Kim referred to the stock-price chart while commenting on the KOSPI’s shift into negative territory, suggesting that the move could be viewed as a short-term correction rather than a confirmed change in the longer trend. With the domestic market ending the session lower, the view from the head of the National Pension Service may be taken by market participants as a reference point for interpreting future stock moves. The original report did not provide specific figures or additional forecasts. Source: mk.co.kr