Nikkei Enters Technical Bear Market; KOSPI Falls 6% After Emergency Meeting

Cointime reports: Japan’s Nikkei 225 closed down 3,666.99 points, or 6.00%, at 57,410.91 on Friday, more than 20% below its June closing peak, confirming a technical bear market. South Korea’s KOSPI closed down 324.15 points, or 6.02%, at 5,059.65 after falling over 8% and breaching 5,000 intraday, triggering its 11th circuit breaker this year. The government then convened an emergency market review meeting and losses narrowed. KOSDAQ fell 5%; SK Hynix dropped over 10% and Samsung Electronics 6.35%.