Seoul: Stocks slide on uncertainty over EU, US stimulus

[SEOUL] South Korean shares slipped on Monday as deadlocked talks in Europe over a recovery package to help economies cope with the Covid-19 fallout dented investor sentiment.

The benchmark Kospi closed down 2.99 points, or 0.14 per cent, at 2,198.20.

Investors are also eyeing South Korea's 20-day export data and second quarter GDP data due this week, said Na Jeong-hwan, an analyst with DS Investment & Securities.

EU leaders stood at an impasse on Sunday after three days of haggling over a plan to revive economies throttled by the Covid-19 pandemic, but the chairman of the near-record-length summit urged them to make one last push on "mission impossible".

Foreigners were net sellers of US$63.26 million worth of shares on the main board.

The trading volume during the session in the Kospi index was 675.46 million shares. Of the total 901 traded issues, 364 advanced.

REUTERS