South Korean shares fell on Tuesday as a record number of global coronavirus infections, mounting US-China tensions and gloomy outlook for corporate earnings dented sentiment. The Korean won weakened, while the benchmark bond yield rose.[SEOUL] South Korean shares fell on Tuesday as a record number of global coronavirus infections, mounting US-China tensions and gloomy outlook for corporate earnings dented sentiment. The Korean won weakened, while the benchmark bond yield rose.
The Trump administration plans to soon scrap a 2013 agreement between US and Chinese auditing authorities, a senior State Department official said. Meanwhile, South Korea's government launched a plan on Tuesday to spend 114.10 trillion won on a"Green New Deal", which has pulled up shares of local companies engaged in digital technologies and environment-friendly industries.