South Korean shares hit near four-month high on US tariff relief

Kakao

14/02/2025 07:26

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      KOSPI rises, foreigners net sellers
    

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      Korean won strengthens 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:*:nL1N3P504F
    

  
       SEOUL, Feb 14 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares rose to their highest level in nearly
four months on Friday as investors took relief from President
Donald Trump's announcement of reciprocal U.S. tariffs that were
not as detailed as expected.
    ** The benchmark KOSPI  .KS11  closed up 7.88 points, or
0.31%, at 2,591.05, the highest since October 30. 
    ** The KOSPI ended the week 2.4% higher, its biggest weekly
jump since early January. 
    ** UTrump tasked his economics team on Thursday with
devising plans for reciprocal tariffs on every country taxing
U.S. imports, with potential targets including South Korea,
China, Japan and the European Union.
    ** "Having priced in expectations of detailed and immediate
tariffs, markets were relieved by the announcement of the plan,"
said Lee Kyoung-min, analyst at Daishin Securities.
    ** South Korea's free trade agreement with the U.S. could
help mitigate its exposure to the reciprocal tariffs, economists
have said.
    ** South Korea's Acting President Choi Sang-mok said on
Friday the government would thoroughly review non-tariff
barriers and other vulnerabilities to respond to the plans.  
    ** Among index heavyweights, chipmaker Samsung Electronics
 005930.KS  rose 0.36% and peer SK Hynix  000660.KS  gained
0.72%, while battery maker LG Energy Solution  373220.KS  slid
1.40%.
    ** Hyundai Motor  005380.KS  shed 1.20% but sister automaker
Kia Corp  000270.KS  gained 0.74%, while steelmaker POSCO
Holdings  005490.KS  and Hyundai Steel  004020.KS  closed up
0.20% and 2.98%, respectively. 
    ** Of the total 940 traded issues, 498 shares advanced,
while 367 declined.
    ** Foreigners were net sellers of shares worth 322.2 billion
won ($223.27 million).
    ** The won was quoted at 1,443.5 per dollar on the onshore
settlement platform  KRW=KFTC , 0.21% higher than its previous
close at 1,446.6.
    ** In money and debt markets, March futures on three-year
treasury bonds  KTBc1  rose 0.05 point to 106.72.
    ** The most liquid three-year Korean treasury bond yield
 KR3YT=RR  fell by 2.0 basis points to 2.611%, while the
benchmark 10-year yield  KR10YT=RR  fell by 5.6 bps to 2.848%.

($1 = 1,443.1100 won)

 (Reporting by Jihoon Lee; Editing by Sonia Cheema)
 ((jihoon.lee@thomsonreuters.com;))