Free Republic

South Korea Shares Pounded By Morning Selling; Kospi Falls 9.9% SEOUL (Dow Jones)--South Korean shares were hammered by waves of selling Tuesday morning, driving the main Kospi stock index down as much as 9.9% and prompting the market operator to briefly suspend program trading. Selling dragged down most of the market, with banks and brokerages particularly hard hit. A surge of sell orders from foreign investors was the main driving force behind the selloff. At 0250 GMT the Kospi was down 8.4%. The market is in "panic" and "making any kind of comment would be meaningless...people are throwing stocks away...