South Korea: Stocks tumble as Japan takes Seoul off easy-trade list

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

[SEOUL] South Korean shares slumped 1 per cent on Friday as Japan's decision to remove Seoul from fast-track export status put further strain on the trade-dependent economy, which is already reeling from the broadening fallout of the Sino-US trade war. Read more at The Business Times.

South Korean shares slumped 1 per cent on Friday as Japan's decision to remove Seoul from fast-track export status put further strain on the trade-dependent economy, which is already reeling from the broadening fallout of the Sino-US trade war.

The decision would take effect from Aug 28, Japan's Industry Minister Hiroshige Seko told a briefing."It's hard to gauge its impact as of now. Japan may approve some exports smoothly, while making the process difficult for certain items," said Ku Yong-uk, chief of Mirae Asset Daewoo research centre."It will affect some small- and mid-sized manufacturers, which import precision machineries from Japan," said Seo Sang-young, an analyst at Kiwoom Securities.

Sentiment was already gloomy when trading began after US President Donald Trump on Thursday said he plans to impose a 10 per cent tariff on US$300 billion of Chinese imports from next month in a sharp escalation of the year-long trade dispute, sending global stocks sliding and triggering a rush to safe-haven assets.Stationery-maker Monami Co Ltd surged more than 17.4 per cent, while apparel makers Shinsung Tongsang Co Ltd and Sbw Inc rallied 6.5 per cent and 4.2 per cent, respectively.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 15. in BE

Belgique Dernières Nouvelles, Belgique Actualités