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Seoul stocks and the won fell on August 26 as the US-China trade war escalated. The KOSPI closed down 1.64% at 1,916.31, and the won lost 7.2 won to close at 1,217.8 per dollar.
The sell-off followed Trump's signal of raising tariffs on $250 billion of Chinese goods to 30% from 25%.
The won's weakness raises the dollar cost of imported feed for Korean buyers. Renewed trade escalation also points to weaker Chinese and Korean demand for US and other feed commodities.
koreatimes.co.krJhoo Dong-chanAug 26, 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.
