Seoul stocks drop to 7-month low amid Fed's timid rate cut, Seoul-Tokyo tensions

코스피 7개월만에 최저South Korean stocks closed to a seven-month low today after a smaller-than-expected rate cut by the U.S. Fed, as well as ongoing trade tensions between Seoul and Tokyo.The benchmark KOSPI fell by more than a third of a percent to close at 2,017.As well as the Fed's timid quarter-percentage-point rate cut, investors were also disappointed after the Fed chair hinted that the central bank would not be engaging in an aggressive rate-reducing policy.