S.Korean shares end 1% higher as exporters rally on tariff optimism

Kakao

13/02/2025 07:22

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      KOSPI rises, foreigners net sellers
    

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      Korean won strengthens against dollar
    

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      South Korea benchmark bond yield steady
    

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      For the midday report, please click  urn:newsml:reuters.com:*:nL1N3P400U
    

  
       SEOUL, Feb 13 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares climbed more than 1% on Thursday,
hitting the highest levels since early November, as exporters of
cars, batteries and steel rallied on optimism about a potential
exemption to U.S. tariffs. 
    ** The benchmark KOSPI  .KS11  closed up 34.78 points, or
1.36%, at 2,583.17. 
    ** The KOSPI index rose for the third straight session and
closed at its highest level since November 4, 2024. 
    ** Republican U.S. House of Representatives Speaker Mike
Johnson said that he believes U.S. President Donald Trump is
considering exemptions to reciprocal tariffs that include the
automobile and pharmaceutical industries.    
    ** Trump said he would announce reciprocal tariffs this week
on every country that charges duties on U.S. imports, after
introducing 25% tariffs on steel and aluminium imports on
Monday.    
    ** "The market's gains today were led by sectors that had
been weak recently on tariff worries," said Cho Jun-kee, an
analyst at SK Securities. 
    ** South Korea's free trade agreement with the United States
could help mitigate its exposure to reciprocal tariffs
threatened by Trump, economists said. 
    ** Shares of Hyundai Motor  005380.KS  rose 5.25% and sister
automaker Kia Corp  000270.KS  gained 2.84%, while Samsung
Biologics  207940.KS  closed nearly 2% higher.      
    ** Steelmaker POSCO Holdings  005490.KS  rallied 6.94%,
while Hyundai Steel  004020.KS  added 7.06%.
    ** Battery maker LG Energy Solution  373220.KS  jumped
5.76%.     
    ** Foreigners were net sellers of shares worth 103.4 billion
won ($71.40 million).
    ** The won was quoted at 1,447.5 per dollar on the onshore
settlement platform  KRW=KFTC , 0.59% higher than its previous
close at 1,456.0.
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  fell by 1.4 basis points to 2.638%, while the
benchmark 10-year yield  KR10YT=RR  rose by 0.1 basis point to
2.883%.

     ($1 = 1,448.2400 won)

 (Reporting by Jihoon Lee; Editing by Sherry Jacob-Phillips)
 ((jihoon.lee@thomsonreuters.com;))