SEOUL: South Korean stocks traded 0.69 percent lower late Tuesday morning as fears of the Middle East Respiratory Syndrome (MERS), coupled with weak economic data, sapped demand for a risky appetite, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 14.58 points to 2,087.79 as of 11:20 a.m.
The number of confirmed MERS cases rose to 25 on Tuesday, with two patients being the first to die here from the respiratory illness, according to the Health Ministry.
Also, weak outbound shipments are causing woes that Asia’s fourth-largest economy may lose its upward momentum.
Travel-related shares traded in negative territory, with leading tour agency Hana Tour Service tumbling 7.26 percent and Mode Tour Network sinking 4.33 percent.
Casino operators GKL and Paradise slumped 5.05 percent and 6.24 percent, respectively.
The local currency was trading at 1,116.05 won to the U.S. dollar as of 11:20 a.m., down 5.85 won from Monday’s close.