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Seoul shares set to trade in limited range amid trade dispute

All Headlines 10:00 August 04, 2018

SEOUL, August 4 (Yonhap) -- South Korean shares are set to trade in a limited range amid the ongoing tension between Washington and Beijing over tariffs, analysts here said Saturday.

The benchmark Korea Composite Stock Price Index closed at 2,287.68 points on Friday, down 0.31 percent from the previous week.

Local shares traded slightly weaker earlier this week as investors sought profits, especially focusing on shares in technology companies.

The local bourse later gained ground as listed companies announced their second-quarter performances, which eased uncertainties in the market.

On Wednesday, the market remained bullish amid signs that the United States and China are seeking to settle their trade disputes. A day later, however, Seoul shares closed lower as investor sentiment was hurt by reports that the Donald Trump administration is considering imposing a whopping 25 percent tariff on $200 billion worth of Chinese goods.

Seoul shares closed higher on Friday as gains of tech shares on Wall Street bolstered investor sentiment here.

Next week, the South Korean stock market is anticipated to remain in a limited range as investors take a wait-and-see approach on the trade dispute.

"As the U.S.-China trade dispute remains a source of concern, it will be a factor limiting gains in the market," said Kim Byong-yeon, a researcher at NH Investment & Securities Co.

Foreigners bought a net 354.6 billion won, while institutions sold a net 717 billion won. Retail investors bought more shares than they sold at 191 billion won.

colin@yna.co.kr
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