S.Korean shares end at 3-week high on tariff optimism despite Trump's comments

Kakao

11/02/2025 07:21

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      KOSPI rises, foreigners net buyers
    

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      Korean won weakens against dollar
    

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      South Korea benchmark bond yield falls
    

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      For the midday report, please click  urn:newsml:reuters.com:*:nL1N3P201R
    

  
       SEOUL, Feb 11 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares climbed on Tuesday to their highest
close in nearly three weeks, as investors remained optimistic
that the impact of U.S. tariffs would be less severe than
initially feared. 
    ** The benchmark KOSPI  .KS11  closed up 17.78 points, or
0.71%, at 2,539.05, the highest level since January 22.
    ** U.S. President Donald Trump said on Monday he was looking
at tariffs on cars, semiconductor chips and pharmaceuticals,
after signing proclamations to impose tariffs on steel and
aluminium imports.  
    ** South Korea's Trade Minister Cheong In-kyo said on
Tuesday that Trump's 25% tariffs on steel and aluminium imports
would erode domestic steel exporters' profitability. 
    ** "Still, the market reaction to Trump's tariffs was
comparably optimistic," said Lee Kyoung-min, an analyst at
Daishin Securities.
    ** "He is imposing tariffs on grounds that they will
strengthen the U.S. manufacturing sector, but there are voices
raising concern within the U.S. about inflation, supply chains,
and relations with allies," Lee said. 
    ** Six of the KOSPI's top 10 heavyweights are chipmakers,
automakers and biopharmaceutical stocks. Last year, exports of
automobiles, semiconductors and auto parts drove South Korea's
shipments to the United States to a record high. 
    ** South Korea's exports grew marginally in the first 10
days of this month, as shipments to the United States fell, data
showed.    
    ** Shares of chipmaker Samsung Electronics  005930.KS  rose
0.18% and peer SK Hynix  000660.KS  gained 0.81%. Hyundai Motor
 005380.KS  ended flat, but sister automaker Kia Corp
 000270.KS  fell 0.85%.
    ** Samsung Biologics  207940.KS  jumped 3.89%, while
biopharmaceutical peer Celltrion  068270.KS  climbed 0.39%. 
    ** Shares of Hanwha group companies rallied, with the
defence affiliate, Hanwha Aerospace  012450.KS , surging 20.6%
to a record high on strong earnings. 
    ** Steelmaker POSCO Holdings  005490.KS  closed 0.8% lower,
extending losses for a second straight day, and Dongkuk Steel
Mill  460860.KS  fell nearly 1% to close at a three-month low.
    ** Foreigners were net buyers of shares worth 143.5 billion
won ($98.76 million).
    ** The won was quoted 0.09% lower at 1,452.6 per dollar on
the onshore settlement platform  KRW=KFTC .
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  fell by 1.2 basis points to 2.627%, while the
benchmark 10-year yield  KR10YT=RR  slipped 1.4 basis points to
2.840%.

    ($1 = 1,452.9800 won)
    

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