[SEOUL] South Korean shares closed up 1 per cent on Tuesday after the government unveiled aggressive spending measures to blunt the economic damage from the Covid-19 pandemic and as manufacturing activity improved in China.Foreigners were net sellers of 209.7 billion won worth of shares on the main board.
South Korea said it was ready to boost policy support if the rate of cases worsen and unveiled plans to boost total spending by 8.5 per cent to a record 555.8 trillion won next year. Also helping sentiment, the Korea Centres for Disease Control and Prevention reported 235 new coronavirus cases as of midnight Monday, dropping slightly for five straight days.
Source: News Formal (newsformal.com)
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