[SEOUL] South Korean shares closed almost flat on Monday as dented hopes over a new US stimulus plan and a global surge in coronavirus cases offset optimism around domestic data.White House Chief of Staff Mark Meadows said on Sunday he was not optimistic on reaching agreement soon on a deal for the next round of legislation to provide relief to Americans hit hard by the Covid-19 pandemic.
A private survey showed on Monday South Korea's manufacturing activity shrank at a much slower pace in July, signalling that a gradual recovery in demand is gaining momentum, although the resurgence in infections remained a risk. The country on Saturday reported a 7 per cent contraction in July exports, the slowest in four months, providing further signs of a recovery.BT is now on Telegram!
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