Kospi crashes below 5,300 as selloff intensifies

South Korean stocks extended their historic selloff Wednesday, with the Kospi plunging nearly 13 percent to below 5,300 and triggering a circuit breaker for a second straight day amid heavy selling by retail and foreign investors. The Kospi was trading around 5,600 as of 2:30 p.m., down about 7 percent, after opening 1.09 percent higher at 6,089.11. The benchmark quickly reversed course and sank as low as 5,262.77, down 12.63 percent from the previous close. The slide took the index below the 5,