South Korean shares rise on easing tariff woes; won hits 4-month high
- The benchmark KOSPI closed up 23.17 points, or 0.95%, at 2,455.89
SEOUL: Round-up of South Korean financial markets:
South Korean shares set for third weekly decline on tariff woes
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South Korean shares ended nearly 1% higher on Monday, tracking Wall Street’s gains in the last session on easing worries over US tariffs, while the won hit its strongest level in more than four months.
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The benchmark KOSPI closed up 23.17 points, or 0.95%, at 2,455.89.
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All three major US indexes ended sharply higher on Friday after assurances from Boston Federal Reserve President Susan Collins that the central bank is prepared to keep financial markets functioning should the need arise.
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“Tariff worries eased as Trump was seen taking a step back,” said Lee Kyoung-min, an analyst at Daishin Securities, adding, “Stock markets are stabilising after last week’s high volatility.”
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US President Donald Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week, after the White House announced exclusions of smartphones and computers from reciprocal tariffs.
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South Korea’s acting President Han Duck-soo said Trump appeared to have directed talks on tariffs to begin immediately with South Korea, Japan and India, according to media reports.
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Samsung Electronics rose 1.81% and LG Electronics gained 1.77%. Chipmaker SK Hynix fell 0.33%.
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Battery maker LG Energy Solution climbed 2.24% and peer Samsung SDI added 1.59%. Hyundai Motor and sister automaker Kia gained 1.01% and 1.22%, respectively.
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Steelmaker POSCO Holdings fell 0.20%, while Hyundai Steel gained 2.01%, after media reports said POSCO is considering joining Hyundai’s US plant project.
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LG Innotek, which supplies camera parts to Apple, jumped 5.59%, tracking the US smartphone maker’s gains. LG Display rose 1.50%.
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Of the total 934 traded issues, 637 advanced and 255 declined.
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Foreigners were net sellers of shares worth 255.8 billion won ($179.9 million).
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The won was quoted 0.32% higher at 1,416.5 per dollar on the onshore settlement platform, after hitting its highest level since December 6, 2024 at 1,415.9.
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The most liquid three-year Korean treasury bond yield fell 0.7 basis point to 2.408%, while the benchmark 10-year yield fell 0.1 basis point to 2.692%.
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