Seoul: Stocks fall on mounting US-China tension

[SEOUL] South Korean shares slid on Thursday on intensifying Sino-US tensions and weak data from China, while the country's central bank kept the benchmark rate unchanged.US Secretary of State Mike Pompeo said on Wednesday the United States would impose visa restrictions on Chinese firms, while the Trump administration is also expected to take action to address perceived security risks posed by TikTok and WeChat.

China's economy returned to growth in the second quarter after a deep slump at the start of the year, but domestic consumption and investment remained weak, underscoring the need for more policy support. South Korea's central bank kept its key policy rate on hold, avoiding the risk of fuelling runaway property prices amid government efforts to tamp down on demand in the sector.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Seoul: Stocks slip on US-China tensions, renewed virus fears[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. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Seoul: Stocks hit 5-month closing high on coronavirus vaccine hopes[SEOUL] South Korean shares rose on Wednesday to a five-month closing high, as encouraging results from an early-stage study of an experimental Covid-19 vaccine lifted risk appetite. The Korean won strengthened, while the benchmark bond yield fell. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »