Seoul: Shares end slightly higher on Sino-US trade relief

[SEOUL] South Korean shares closed slightly higher on Tuesday, recouping earlier losses in the session, after US President Donald Trump said the US-China trade pact was "fully intact".

The benchmark Kospi ended up 0.21 per cent at 2,131.24, after falling as much as 0.76 per cent in early session after White House adviser Peter Navarro said the trade deal with China is "over".

Mr Navarro later walked back on his comments, saying the trade deal with China "continues in place", while Mr Trump also soothed nerves by tweeting that "China trade deal is fully intact."

Coronavirus cases are soaring in several major countries at the same time, the World Health Organization said on Monday.

South Korea reported 46 new coronavirus cases on Tuesday, bringing the national tally to 12,484.

Foreigners were net sellers of US$45.99 million worth of shares on the main board.

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REUTERS