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South Korea: Stocks wobble on recession, trade war concerns

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South Korean shares ended lower on Tuesday as a drop in US yield curve fuelled demand for safe-haven bets, adding pressure on the market, already hit by Sino-US trade war and Japan's export curbs.

[SEOUL] South Korean shares ended lower on Tuesday as a drop in US yield curve fuelled demand for safe-haven bets, adding pressure on the market, already hit by Sino-US trade war and Japan's export curbs.

The Seoul stock market's main KOSPI ended down 16.46 points or 0.85 per cent at 1,925.83 points.

Foreigners were net sellers of  US$142.88 million worth of shares on the main board. They were net sellers for a tenth consecutive session, marking the longest selling spree since January 2016.

South Korea's construction stocks slumped after the government introduced a regulation to cool the housing market. The construction sub-index was the biggest percentage loser among KOSPI sub-indexes, with a 2.9 per cent drop.

The KOSPI dropped 5.64 per cent so far this year, but lost 8.8 per cent in the previous 30 trading sessions.

REUTERS

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