South Korean shares log biggest jump since March 2020 on Trump tariff pause

Kakao

10/04/2025 07:33

KOSPI rises, foreigners net buyers

Korean won strengthens against US dollar

South Korea benchmark bond yield falls

For the midday report, please click nL2N3QO016

SEOUL, April 10 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares on Thursday posted their sharpest rally in more than five years as U.S. President Donald Trump hit a sudden pause on most tariffs.

** The benchmark KOSPI .KS11 added 151.36 points, or 6.6%, to close at 2,445.06, logging the biggest percentage jump since March 24, 2020.

** On Wednesday, the blue-chip index fell to more than 17-month low as Trump's tariffs, including 25% duties on imports from South Korea, took effect.

** Earlier in the day, the "sidecar" rule was triggered a second time this week after Monday when futures fell sharply. The rule is activated when futures gain or lose more than 5%.

** Meanwhile, in a stunning reversal, Trump on Wednesday announced a 90-day pause on the hefty duties imposed on dozens of trade partners, while raising the China duties to 125%.

** The tariff reprieve has provided room for negotiations, South Korea's top trade envoy Cheong In-kyo said, as the country seeks to reduce the duties through talks.

** "Stocks rebounded across global financial markets, but not to the levels traded before the initial announcement of the tariffs. Volatility will remain elevated amid negotiation noises," said Lee Kyoung-min, an analyst at Daishin Securities.

** Chipmaker Samsung Electronics 005930.KS rose 6.42% and peer SK Hynix 000660.KS gained 11.03%. Battery maker LG Energy Solution 373220.KS climbed 11.31%.

** Hyundai Motor 005380.KS added 5.06% and sister automaker Kia 000270.KS gained 5.25%. Steelmakers and drugmakers also advanced.

** Only 47 of the 936 traded issues fell.

** Foreigners were net buyers of shares worth 325.2 billion won ($222.96 million), snapping a nine-session selling streak.

** The won was quoted at 1,456.4 per dollar on the onshore settlement platform KRW=KFTC, 1.07% higher than Wednesday's close.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose 0.1 basis points to 2.434%. The benchmark 10-year yield KR10YT=RR fell 3.3 basis points to 2.695%.

($1 = 1,458.5400 won)

 (Reporting by Jihoon Lee; Editing by Sumana Nandy)

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