Japanese and South Korean stock markets closed lower, with South Korea's KOSPI falling over 5%

Odaily Planet Daily reports, according to Gate data, the Nikkei 225 index closed down 1,437.91 points, or 2.11%, at 66,819.05 on Wednesday, July 8. The Korea KOSPI index closed down 409.53 points, or 5.35%, at 7,246.78 on Wednesday, July 8. The index once triggered a "temporary trading halt" mechanism during the session and has now fallen about 20% from its June high, approaching a technical bear market.