South Korea: Stocks climb on imminent signing of US-China trade deal

[SEOUL] South Korean shares rose for a fourth session on Tuesday, boosted by optimism about the signing of a preliminary US-China trade deal to ease an 18-month-old tariff war. 

The KOSPI closed up 9.62 points, or 0.43 per cent, at 2238.88, posting its highest close since April 17, 2019.

China has pledged to buy nearly an additional US$80 billion of manufactured goods from the United States over the next two years, plus just over US$50 billion more in energy supplies, under the Phase 1 trade deal with China to be signed on Wednesday, a source briefed on the agreement said on Monday.

The KOSPI has risen 1.88 per cent so far this year, and gained 4.8 per cent in the previous 30 trading sessions.

REUTERS