South Korea: Stocks snap 4-day gains ahead of trade deal signing

[SEOUL] South Korean shares snapped a 4-session winning streak on Wednesday, as investors awaited the fine print of a Phase 1 trade deal between the United States and China.

The Seoul stock market's main KOSPI closed down 7.89 points, or 0.35 per cent, at 2,230.98, after rising for a fourth straight session.

Investor sentiment soured after remarks from US Treasury Secretary Steven Mnuchin that the US would maintain tariffs on Chinese goods until the completion of a second phase of agreement between the two sides.

Foreigners were net sellers of US$74.76 million worth of shares on the main board.

The KOSPI has risen 1.52 per cent so far this year, and gained 5.7 per cent in the previous 30 trading sessions.

The trading volume during the session in the KOSPI index was 732.35 million shares and, of the total traded issues of 906, advancing shares were 513.

REUTERS