S.Korea's steel shares jump ahead of possible US trade deal

Husteel

26/03/2018 01:01

SEOUL, March 26 (Reuters) - South Korea's steelmakers rose
sharply on Monday, with Dongbu Steel  016380.KS  leading gains,
ahead of a possible trade deal between Seoul and Washington.
    Washington has said that the United States and South Korea
could announce a trade deal this week that would cover an
exemption from U.S. steel and aluminum tariffs and other trade
issues.  urn:newsml:reuters.com:*:nL1N1R51N4
    Dongbu Steel shares surged 21.8 percent and Husteel shares
 005010.KS  jumped 7.3 percent, while Seah Steel  003030.KS 
rose 5.5 percent.
    Auto shares, which are also expected to be affected by the
trade deal, moved tentatively with Hyundai Motor  005380.KS 
easing 0.3 percent and Kia Motors  000270.KS  slipping 0.8
percent in a nearly flat broader market  .KS11 .

 (Reporting by Dahee Kim and Hyunjoo Jin)
 ((Dahee.Kim@thomsonreuters.com; +82 2 3704 5643; Reuters
Messaging: dahee.kim@thomsonreuters.com))