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South Korea's won and stocks led losses across Asian emerging markets as US-China trade tensions escalated. The won slipped as much as 1.7% to 1,218.35 per dollar, its weakest since March 2016, after China set its yuan fixing weaker than 6.9 per dollar for the first time in 2019.
The Kospi fell 2.5%.
A weaker won raises the local-currency cost of imported feed ingredients such as corn, soybean meal and DDGS for Korean buyers, even though the dollar prices of these commodities are unchanged.
bloomberg.comHooyeon Kim, Heejin KimAug 5, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
