South Korean shares dip on trade war jitters, but post weekly gain

Kakao

14/03/2025 07:35

KOSPI falls, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield rises

For the midday report, please click nL1N3PX014

SEOUL, March 14 (Reuters) - Round-up of South Korean financial markets:

     ** South Korean shares fell on Friday, tracking a drop on Wall Street amid concerns over U.S. President Donald Trump's trade war, but still posted a second consecutive weekly gain. The won strengthened, while the benchmark bond yield rose.

     ** The benchmark KOSPI .KS11 closed down 7.28 points, or 0.28%, at 2,566.36. For the week, the benchmark has gained 0.1%.

     ** Among index heavyweights, chipmaker Samsung Electronics 005930.KS was flat and peer SK Hynix 000660.KS gained 2.4%, while battery maker LG Energy Solution 373220.KS slid 4.1%.

     ** Shares of Hyundai Motor 005380.KS shed 1.2% and sister automaker Kia Corp 000270.KS lost 0.9%, while search engine Naver 035420.KS and instant messenger Kakao 035720.KS were down 3.70% and up 0.70%, respectively.

** Wall Street ended sharply lower on Thursday and the S&P 500 confirmed it is in a correction after cool inflation data was overshadowed by fears of an escalating tariff war.

** South Korea's acting President Choi Sang-mok on Friday ordered financial regulators to closely monitor markets as uncertainties remain high over U.S. tariff policies and monetary policy changes abroad, his office said.

     ** Of the total 942 traded issues, 510 shares advanced, while 359 declined.

     ** Foreigners were net sellers of shares worth 289.3 billion won on the main board on Friday.

     ** The won was quoted at 1,454.2 per dollar on the onshore settlement platform KRW=KFTC, 0.19% higher than its previous close at 1,457.0.

     ** In offshore trading, the won KRW= was quoted at 1,453.9 per dollar, while in non-deliverable forward trading its one-month contract KRW1MNDFOR= was quoted at 1,451.2.

     ** The KOSPI has risen 6.95% so far this year, and gained 2.3% in the previous 30 trading sessions.

     ** The won has strengthened 1.2% against the dollar so far this year.

     ** In money and debt markets, March futures on three-year treasury bonds KTBc1 fell 0.04 point to 106.69.

 (Reporting by Cynthia Kim; Editing by Sherry Jacob-Phillips)

 ((Cynthia.Kim@thomsonreuters.com; 822 3704 5655; Reuters Messaging: cynthia.kim.thomsonreuters.com@reuters.net))