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Bloomberg
South Korea stocks, one of the worst-hit markets in the wake of US-China trade tensions, face another risk: the surge in crude oil prices.
Nader Naeimi, head of dynamic markets at AMP Capital Investors, is selling Korean equities on concern rising geopolitical risks in the Middle East will raise oil prices, hurting the earnings of Korean firms. He’s turning to Japanese stocks, saying they would benefit from rotational buying and relief from the trade tensions between the US and Japan.
“South Korea has got the most to lose from higher oil prices in the world,†he said.