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S Korea: Stocks snap winning streak on trade deal uncertainty
[SEOUL] South Korean shares ended a six-session winning streak on Friday on worries that an interim Sino-US trade deal to cancel existing tariffs faced opposition from White House officials.
China and the United States have agreed to roll back tariffs on each others' goods in a "phase one" trade deal if it is completed, officials from both sides said on Thursday.
However, the optimism retreated after Reuters reported that an agreement to roll back existing tariffs as part of a "phase one" trade deal faced fierce internal opposition in the White House and from outside advisers.
The Seoul stock market's main KOSPI closed down 7.06 points, or 0.33 per cent, at 2,137.23. For the week, the index gained 1.76 per cent, marking its fifth straight week of gains.
The KOSPI has risen 4.71 per cent so far this year, and gained 2.1 per cent in the previous 30 trading sessions.
The trading volume during the session in the KOSPI index was 564.85 million shares and, of the total traded issues of 904, the number of advancing shares was 490.