Korean Securities Firms Shift to Downgrade Mode as KOSPI Breaks Below 7,000

According to FnGuide, Korean securities firms issued 323 downgrade reports in early July (July 1-16), surpassing 249 upgrade reports for the first time this year. The shift reflects declining confidence as KOSPI fell below 7,000 points, closing at 6,800 on July 16 after the index experienced extreme volatility, including an 8.95% plunge on July 13 followed by a 6.24% rebound two days later.
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