South Korea GDP Beats Forecasts at 1.0% So Why Is KOSPI Still Down?

South Korea’s gross domestic product (GDP) grew 1.0% in the third quarter on chip exports. The Korea Composite Stock Price Index (KOSPI) is still down 8.5% over three months, TradingView data shows. The Bank of Korea (BOK) reported the gain on Oct. 27, more than triple its 0.3% forecast from August. Samsung Electronics and SK Hynix, which hold about half the index, sit behind both the export boom and the selloff. Why Is Korea’s Stock Market Falling While Growth Accelerates? Shipments of semiconductors, machinery and electrical goods lifted exports 2.3%, the Times reported. Facility investment gained 4.1% as companies bought more machinery, chipmaking tools among it. Private consumption slipped 0.2%, the Herald reported. Exports and factory investment, not households, drove the gain.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.