South Korean shares end lower on Trump tariff, EV worries

Kakao

21/01/2025 06:53

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      KOSPI falls, foreigners net sellers
    

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      Korean won little changed against U.S. 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:*:nL2N3OH07V
    

  
       SEOUL, Jan 21 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares ended lower on Tuesday, erasing early
gains, on worries about U.S. President Donald Trump's tariff and
electric-vehicle (EV) policies. 
    ** The benchmark KOSPI  .KS11  closed down 2.02 points, or
0.08%, at 2,518.03, after rising more than 1% to the highest
level since mid-November. 
    ** Trump said on the first day of his second presidency that
he was considering imposing 25% tariffs on imports from Canada
and Mexico next month.
    ** "The market fell on Trump's tariffs comments. It is
inevitable to see heightened volatility for the time being with
nothing decided yet," said Seo Sang-young, an analyst at Mirae
Asset Securities. "Investors, when they started trading early
morning, were relieved that there was no comment specifically
mentioning tariffs."
    ** South Korea's acting president Choi Sang-mok said the
government would review response measures to Trump's proposed
policies, particularly on tariffs and electric vehicles.
    ** Battery makers dropped, with LG Energy Solution
 373220.KS  losing 4.3% after Trump revoked the previous Biden
administration's executive order on EVs.
    ** The shipbuilding sector, on Trump's radar for
cooperation, rallied, with HD Hyundai Mipo  010620.KS  soaring
10% and Hanwha Ocean  042660.KS  gaining 6%.
    ** Hyundai Motor  005380.KS , which has operations in
Mexico, fell 0.96%. 
    ** Of the total 944 traded issues, 388 shares advanced,
while 487 declined.
    ** Foreigners were net sellers of shares worth 174.2 billion
won ($120.92 million).
    ** The won was quoted at 1,439.5 per dollar on the onshore
settlement platform  KRW=KFTC , 0.03% higher than its previous
close at 1,440.0.
    ** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  rose 0.14 points to 106.92.
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  fell by 4.8 basis points to 2.576%, while the
benchmark 10-year yield  KR10YT=RR  fell by 4.9 basis points to
2.815%.

($1 = 1,440.6500 won)

 (Reporting by Jihoon Lee; Editing by Janane Venkatraman)
 ((jihoon.lee@thomsonreuters.com;))