Seoul: Shares end lower on coronavirus resurgence worries

[SEOUL] South Korean shares closed lower on Tuesday as worries grew about a second wave of Covid-19 infections at home and in several other countries amid their efforts to re-open economies.

The KOSPI ended 13.23 points, or 0.68 per cent, lower at 1,922.17.

South Korea, which reported 27 new cases on Tuesday, is staring at a possible second wave of infections after easing restrictions last week, as more than 100 cases have been linked to nightclubs at Seoul's biggest Covid-19 clusters.

Concerns of a wider resurgence rose after the central Chinese city of Wuhan reported its first cluster of infections since a lockdown on the city was lifted a month ago.

Market seemed to be driven by coronavirus issues as investors were focusing mainly on the possibility of a resurgence, Kiwoom Securities' analyst Seo Sang-young said. 

Foreigners were net sellers of US$216.23 million worth of shares on the main board.

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The KOSPI has fallen 12.54 per cent so far this year, but gained 20.2 per cent in the previous 30 trading sessions.

The trading volume was 783.91 million shares. Of the total traded issues of 897, the number of advancing shares was 192.

REUTERS