Will Seoul’s shares survive the US debt ceiling woes?

South Korean stocks rose slightly on Monday, ending a four-day losing streak despite concerns over the dispute between the US government and Congress over the US debt ceiling. The benchmark Korea Composite Stock Price Index finished up 0.16% at 2,479.35, after fluctuating between positive and negative territory. The country’s currency fell slightly against the US dollar. Decliners outnumbered gainers at 549 to 315 with trading volume light at 475.7 million shares worth KRW 6.8tn ($5.08bn). The political deadlock has raised concerns over the potential for default, dampening consumer sentiment, said Han Ji-young, an analyst at Kiwoom Securities.

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