Seoul: Stocks fall as Trump-Kim summit fails to yield agreement

[SEOUL] South Korea's Kospi stock index extended its loss on Thursday on growing geopolitical risk after the summit between the United States and North Korea signalled dissonance, failing to produce an agreement in the end. The Korean won weakened, while the benchmark bond yield rose.

South Korea's central bank kept monetary policy steady on Thursday in the face of rising economic risks and muted inflation. Markets barely reacted to the widely-expected rate decision.Shares of South Korean chip giants Samsung Electronics and SK Hynix stumbled on plunging prices of memory chips. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.48 per cent, after US stocks closed down. Japanese stocks fell 0.79 per cent.

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