Seoul stocks down for 2nd day ahead of Fed statement
South Korean stocks fell for the second day in a row July 9 as investors trod cautiously ahead of the US Federal Reserve’s congressional testimony on its rate policy. The Korean won rose against the US dollar.
The benchmark Kospi slipped 12.14 points, or 0.59 percent, to close at 2,052.03. Trade volume was moderate at 433 million shares worth 4.36 trillion won ($3.69 billion), with losers outnumbering gainers 647 to 195.
The local currency closed at 1,180.50 won against the US dollar, up 1.50 won from the previous session’s close.
By Ram Garikipati and newswires (firstname.lastname@example.org)