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South Korea: Stocks trim gains as coordinated G7 response hopes dashed

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[SEOUL] South Korean shares closed higher on Tuesday, but well off early gains, after a Reuters report dented hopes for a round of strongly coordinated stimulus measures by the G7. Read more at The Business Times.

The benchmark KOSPI ended up 11.64 points, or 0.58 per cent, to 2,014.15.[SEOUL] South Korean shares closed higher on Tuesday, but well off early gains, after a Reuters report dented hopes for a round of strongly coordinated stimulus measures by the G7.

The bloc's statement, expected on Tuesday or Wednesday, so far excludes any immediate calls for fiscal spending or coordinated central bank easing, a Group of Seven source told Reuters.Foreigners were net sellers of US$257.16 million worth of shares on the main board. The country reported 600 new cases, taking the total infections to 4,812. Three more people died, bringing the total fatalities to 34.

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