Industry

SpaceX early inclusion in Nasdaq 100 hits index funds, but experts say no need to avoid index investing

SpaceX’s early inclusion in the Nasdaq 100 led index funds tracking the benchmark to buy the stock automatically, but it is not seen as a structural risk that warrants avoiding index investing, an assessment said. The key issue is how index funds are managed and how stocks enter the index. Burton Malkiel warned SpaceX may be overvalued but said its inclusion is not a reason to shun index funds. Investors are watching governance concerns and changes in free float after lockups expire.

Finance

KOSPI slumps more than 6 percent to 6,000 level for first time since May 4

South Korea\'s KOSPI fell more than 6 percent on Monday as semiconductor stocks slid, dropping to the 6,000 level for the first time since May 4. The Kosdaq also turned lower after rising early in the session. Individuals were net buyers, while foreigners and institutions sold. The Korea Exchange triggered a sell-sidecar that briefly halted program sell orders. The won weakened against the dollar as foreign selling and market jitters grew.