South Korea: Stocks fall as investors shrug off rate cut

South Korean shares ended lower on Thursday, as the central bank's surprise rate cut underscored growth worries amid a prolonged trade conflict between the United States and China, and Japan's export curbs.[SEOUL] South Korean shares ended lower on Thursday, as the central bank's surprise rate cut underscored growth worries amid a prolonged trade conflict between the United States and China, and Japan's export curbs.

The Seoul stock market's main KOSPI index closed down 6.37 points, or 0.31 per cent, at 2,066.55 points. South Korea's central bank delivered a surprise interest rate cut, and shaved this year's growth forecast to the lowest in a decade, as a brewing dispute with Japan piled more pressure on the trade-dependent economy.Though the rate cut came earlier than market consensus, uncertainties over Japan's export controls and worries over Sino-US trade negotiations had a larger impact, said Noh Dong-kil, an analyst with NH Investment & Securities, in a note.

The KOSPI has risen 1.25 per cent so far this year, and gained 0.3 per cent in the previous 30 trading sessions.

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South Korea: Stocks down nearly 1%[SEOUL] South Korean stocks fell nearly 1 per cent on Wednesday as economic dispute between South Korea and Japan weighed on sentiment, while US-China trade conflict worries piled on. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »