MARKETS: Strong decline in South Korea | Trade magazine

Asian markets have seen a sharp decline.

South Korea’s Kospi index was down 7.2 percent at the time of the review. As for Kospi, the market is weighed down by concern that the rise in chip stocks has stretched too far, Bloomberg reports.

In Japan, the Nikkei 225 index was down 1.9 percent. SoftBank fell 8.7 percent.

Hong Kong’s Hang Seng index was down 1.4 percent.

Taiwan’s Taiex was down 1.0 percent.

The MSCI All Country index, which follows the world market, was down 0.5 percent.

Stocks have fallen as investors have moved their funds out of some of this year’s best-performing stocks as markets await further developments in U.S.-Iranian peace talks, Bloomberg reports.

In currencies, the dollar strengthened against many currencies. The euro weakened against the dollar. At the time of review, one euro was worth 1.1423 dollars, 184.61 yen, 0.86291 pounds or 11.014 Swedish kronor.

European stock market futures predict a bearish opening. Stoxx Europe 600 futures were down 0.7 percent.