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South Korea: Stocks end weaker on trade jitters; but notch monthly gain

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South Korea's KOSPI stock index closed lower on Friday amid uncertainty over whether the Sino-US negotiations at the G20 summit would produce progress in ending the year-long trade war between the world's two largest economies.

[SEOUL] South Korea's KOSPI stock index closed lower on Friday amid uncertainty over whether the Sino-US negotiations at the G20 summit would produce progress in ending the year-long trade war between the world's two largest economies. The Korean won strengthened, while the benchmark bond yield fell.

The Seoul stock market's main KOSPI closed down 3.70 points or 0.17 per cent at 2,130.62 points.

For the week, the KOSPI gained 0.24 per cent and climbed 4.4 per cent for the month. On a quarterly basis, it declined 0.5 per cent, while adding 4.4 per cent for the first half of 2019.

The index turned lower on undcertainties over the Trump-Xi meeting, said Seo Sang-young, an analyst at Kiwoom Securities. The Seoul stock market climbed early this year on expectations of a trade deal and a rebound of memory chip industry, though the KOSPI index dropped in May hit by trade uncertainties, Mr Seo added.

REUTERS