South Korean shares end largely flat as investors assess US trade talks

Kakao

28/04/2025 08:04

KOSPI flat, foreigners net sellers

Korean won weakens against dollar

South Korea benchmark bond yield steady

For the midday report, please click nL1N3R600J

SEOUL, April 28 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares ended largely flat on Monday as investors assessed developments around U.S. trade talks with Seoul and uncertainty over those with Beijing.

** The benchmark KOSPI .KS11 closed up 2.56 points, or 0.10%, at 2,548.86, its highest since March 28.

** U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were underway and said he did not know if the president had talked to Chinese President Xi Jinping.

** Last week, Bessent said he was encouraged by "productive" early trade talks with Japan and South Korea.

** "Investor sentiment improved as Washington at least showed willingness to negotiate with China," said Lee Kyoung-min, an analyst at Daishin Securities.

** China is South Korea's biggest trading partner.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.18%, but peer SK Hynix 000660.KS lost 1.30%. Battery maker LG Energy Solution 373220.KS climbed 0.73%.

** Hyundai Motor 005380.KS added 0.11% and sister automaker Kia Corp 000270.KS gained 0.57%, while steelmaker POSCO Holdings 005490.KS jumped 0.96%.

** Of the total 935 traded issues, 367 shares advanced, while 522 declined.

** Foreigners were net sellers of shares worth 107 billion won ($74.1 million).

** The won was quoted at 1,442.6 per dollar on the onshore settlement platform KRW=KFTC, 0.19% lower than its previous close at 1,439.8.

** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 0.3 basis point to 2.311%, while the benchmark 10-year yield KR10YT=RR fell by 0.2 bp to 2.580%.

($1 = 1,443.2100 won)

 (Reporting by Jihoon Lee; Editing by Sonia Cheema)

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