Economy
South Korean Stocks Hit Amid US-China Trade War Fears
Written: 2018-05-08 15:53:16 / Updated: 2018-05-08 17:02:31
South Korean shares fell Tuesday as investor sentiment was dampened by rising concerns over the possibility of a U.S.-China trade war.
The benchmark Korea Composite Stock Price Index(KOSPI) fell eleven-point-57 points, or point-47 percent, closing the day at two-thousand-449-point-81.
The tech-heavy KOSDAQ plunged 29-point-12 points, or three-point-40 percent, to close the day at 827-point-22.
The falls followed China’s announcement that its trade surplus with the U.S. widened in April from a month earlier, prompting worries among investors that the two countries may embark on a full-scale trade war.
On the foreign exchange, the local currency strengthened point-seven won against the dollar, ending the session at one-thousand-76-point-five won.
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