Seoul: Shares end flat as virus concerns offset US stimulus hopes

[SEOUL] South Korean shares ended flat on Friday as concerns over surging coronavirus infections at home overshadowed growing optimism about another US economic aid package.

The benchmark Kospi closed nearly unchanged at 2,772.18, up 0.06 per cent from the previous close.

South Korea reported 1,062 new coronavirus cases on Friday, its second-highest ever daily tally, as the government warned businesses it was unacceptable for them to try to dodge shut-down orders by tricking the system.

That countered the boost to sentiment from news that US Republicans and Democrats were scrambling to pass a new round of aid after months of partisan finger-pointing and inaction.

Foreigners were net sellers of US$175.10 million worth of shares on the main board.

The trading volume during the session in the Kospi index was 1,046.82 million shares. Of the total traded issues of 908, the number of advancing shares were 491.

REUTERS