South Korea: Stocks post sharpest fall in 2 weeks on China virus concerns

[SEOUL] South Korean shares fell sharply on Tuesday on growing worries over a new virus outbreak in China, with traders also awaiting the release of data on 2019 gross domestic product growth on Wednesday. 

The Seoul stock market's main KOSPI closed down 22.95 points, or 1.01 per cent, to 2,239.69, marking the sharpest fall in two weeks.

China reported a fourth death due to the outbreak and said the coronavirus could spread from person-to-person, raising concerns about Chinese travellers during the Lunar New Year holiday. The World Health Organisation has convened an emergency committee of experts on Wednesday, while health authorities around the world stepped up screening.

Foreigners were net sellers of US$174.06 million worth of shares on the main board.

The KOSPI has risen 1.91 per cent so far this year.

REUTERS