South Korean share close at near one-month high on US tariff hopes

Kakao

23/04/2025 08:00

KOSPI rises, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield falls

For the midday report, please click nL1N3R101V

SEOUL, April 23 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares rose more than 1% on Wednesday to close at their highest level in nearly a month on growing optimism around U.S. trade negotiations.

** The benchmark KOSPI .KS11 ended up 38.92 points, or 1.57%, at 2,525.56, its highest closing level since March 28.

** South Korea's Industry Minister Ahn Duk-geun said on Wednesday that his country's delegation will seek a speedy solution over auto tariffs in talks with U.S. counterparts on Thursday.

** Meanwhile, U.S. Treasury Secretary Scott Bessent said he believes there will be a de-escalation in U.S.-China trade tensions.

** "The market rose on expectations that the worst had passed regarding tariffs with U.S.-China tensions not worsening further," said Huh Jae-hwan, an analyst at Eugene Investment Securities.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 1.27% and peer SK Hynix 000660.KS gained 4.14%, while battery maker LG Energy Solution 373220.KS climbed 5.12%.

** Hyundai Motor 005380.KS added 2.37% and sister automaker Kia Corp 000270.KS gained 3.69%, while steelmakers also rose.

** Of the total 933 traded issues, 629 shares advanced, while 255 declined.

** Foreigners were net sellers of shares worth 197.8 billion won ($138.9 million).

** The won was quoted at 1,420.6 per dollar on the onshore settlement platform KRW=KFTC, 0.24% higher than its previous close at 1,424.0.

** In money and debt markets, June futures on three-year treasury bonds KTBc1 fell 0.05 point to 107.65.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 1.4 basis points to 2.341%, while the benchmark 10-year yield KR10YT=RR fell by 1.5 basis points to 2.604%.

($1 = 1,423.6300 won)

 (Reporting by Jihoon Lee and Youn Ah Moon)

 ((jihoon.lee@thomsonreuters.com;))