KOSPI Falls Amid US-China Trade War Concerns

Write : 2018-07-11 15:54:00 Update : 2018-07-11 15:54:43

The U.S.' threat of an additional 200-billion-dollars worth of tariffs on Chinese goods caused a sell-off in Chinese markets and knocked Asian stocks. 

According to senior U.S. administration officials Tuesday, Washington proposed the additional tariffs after negotiations aimed at finding a solution to the trade dispute failed to materialize an agreement. 

The benchmark Korea Composite Stock Price Index(KOSPI) fell 13-point-54-points, or point-59 percent, to close the day at two-thousand-280-point-62. 

The tech-heavy KOSDAQ also fell, losing eight-point-41 points, or one-point-03 percent. It closed the day at 804-point-78. 

On the foreign exchange, the local currency weakened four won against the dollar, ending the session at one-thousand-120 won.

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