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South Korea: Stocks tumble as Trump stirs concerns of trade war dragging on
[SEOUL] South Korean shares ended lower on Wednesday, as US President Donald Trump's remarks stoked fears that the trade war with China could drag on much longer than expected.
Mr Trump said a trade agreement with China might have to wait until after the US presidential election in November 2020, denting hopes of a resolution soon to a dispute that has weighed on the world economy.
The Seoul stock market's main Kospi ended down 15.18 points, or 0.73 per cent, at 2,068.89.
Foreigners were net sellers of US$318.49 million worth of shares on the main board. They were net sellers for a 20th straight session.
The Kospi has risen 1.36 per cent so far this year, but lost 0.2 per cent in the previous 30 trading sessions.
The trading volume during the session in the Kospi index was 330.10 million shares. Of the total 907 issues traded, 201 advanced.