FOX NEWS — The stock of a Korean food-service company is down 30% from its peak on Wednesday, a stark reminder that the country’s economic growth is slowing, but its stock is rising.
On Wednesday, the Nikkei 225 index dropped nearly 3%, while the Nikko Stock Average gained about 1%.
The Nikkeis have gained more than 20% since February.
The market has been down almost 7% this year, the biggest one-day drop since the 2008-2009 financial crisis.
The Nikko Index had slipped more than 6% for most of the week.
The Nikko gained about 3% Tuesday and has gained more this week than the Nikkel.
The nkladas stock market index fell more than 1% for the week, its biggest one week decline since April.
The country’s economy is still struggling, but growth is slowly picking up, according to the Ministry of Economy and Trade.
The stock market in the Korean Peninsula rose about 10% in 2018, the most since 2007, but that rate has dropped off.
The economy is expected to grow at about 2.6% in 2019, up from 1.8% in the third quarter of 2019, according the ministry.