Jeju Air stock hits a record low after plane crash

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Jeju Air stock hits a record low after plane crash

businessinsider.com2024-12-30

Jeju Air shares hit record low after a deadly plane crash in South Korea.The crash occurred amid political turmoil with three presidents in a month in South Korea.Political uncertainty has increased ...

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It was carrying 181 passengers and crew members.Jeju Air's stock slumped as much 16% and was 8% lower at 12:23 p.m. local time on Monday. The stock of AK Holdings, the airline's parent company, fell as much as 12%.The decline in Jeju Air shares comes on the back of a choppy month in South Korea's stock market amid political uncertainty.The country has been led by three presidents in a month following the impeachment of President Yoon Suk-yeol and acting president Han Duck-soo. Deputy prime minister and finance minister Choi Sang-mok became the country's acting president on Friday.The turmoil came after Yoon declared martial law — which lasted six hours — earlier this month. 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It is down about 9% year-to-date.\"Due to the high levels of political uncertainty, it appears that many participants are sitting on the sidelines, not wanting to commit too much on the Korean markets,\" added Kim, who expects trading in South Korea's markets to remain \"highly volatile\" in January.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}