South Korea: Stocks end firmer on hopes of China stimulus boost

Published Wed, Feb 5, 2020 · 07:46 AM

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[SEOUL] South Korean shares rose for a second straight session on Wednesday as investors bet on additional stimulus measures from Beijing to blunt the economic blow from a coronavirus outbreak.

The Seoul stock market's main KOSPI ended up 7.73 points, or 0.36 per cent, at 2,165.63.

Markets took comfort on reports that Chinese policymakers are readying measures to support an economy jolted by a coronavirus outbreak that is expected to have a devastating impact on first-quarter growth, policy sources said.

The death toll from a coronavirus outbreak in China passed 490 on Wednesday, as two US airlines suspended flights to Hong Kong following the first fatality there and 10 cases were confirmed on a cruise ship quarantined in Japan.

The KOSPI dropped 1.46 per cent so far this year, and lost 1.7 per cent in the previous 30 trading sessions.

The trading volume during the session in the KOSPI index was 563.08 million shares and, of the total traded issues of 904, the number of advancing shares was 483.

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