South Korean battery, auto stocks drop on Trump's early lead

Samsung SDI

06/11/2024 04:10

** South Korean battery and auto makers slide on Republican
Donald Trump's early lead in the U.S. election
    ** Battery maker LG Energy Solution  373220.KS  slips 4.9%,
Samsung SDI  006400.KS  and SK Innovation  096770.KS  fall 3.8%
and 2.6%, respectively
    ** Hyundai  005380.KS  trades 3.5% lower; sister automaker
Kia  000270.KS  down 2.3%
    ** Trump wins 14 states, while Democrat Kamala Harris
captures four states and Washington, D.C., Edison Research
projects
    ** Trump seen less supportive of climate-friendly policies,
including subsidies for EVs, than Harris, analysts said
    ** South Korea's trade surplus with the U.S. at record high,
with vehicles accounting for the biggest share of its U.S.
exports
    ** "There will be threats on those sectors leading South
Korea's surpluses in trade with U.S. if Trump wins," Seo
Sang-young, an analyst at Mirae Asset Securities, said
    ** Broader KOSPI  .KS11  pares earlier gains, sheds 1%

 (Reporting by Jihoon Lee)
 ((jihoon.lee@thomsonreuters.com))