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South Korea: Stocks end higher on optimism around US-China trade deal

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The Seoul stock market's main KOSPI rose 6.50 points, or 0.31 per cent, to 2,127.85.[SEOUL] South Korean shares closed higher on Wednesday on rising hopes for an initial US-China trade deal, although gains were capped due to selloff related to the rebalancing of MSCI index.

The United States and China are close to an agreement on the first phase of a trade deal, US President Donald Trump said on Tuesday, after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues.The KOSPI has risen 4.25 per cent so far this year, but gained 2.6 per cent in the previous 30 trading sessions.The trading volume during the session in the KOSPI index was 361.

 

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