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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.



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