KOSPI Falls Below 2,800 Points

The Korea Composite Stock Price Index has plunged below 2,800 points for the first time in 13 months.

The KOSPI closed down 1.5 percent on Monday at 2,792 points, the lowest level since Dec. 23, 2020. The tech-heavy Kosdaq also closed down 2.9 percent at 915.4 points.

The U.S. Federal Reserve's hints that it may hike interest rates and heightening military tensions in the Ukraine sapped investor sentiment.

The KOSPI and Kosdaq suffered bigger declines than other Asian markets. Japan's Nikkei Index closed up 0.2 percent at 27,588.37 points, while China's Shanghai Composite Index closed up 0.04 percent at 3,524.11 points.