South Korean shares hit one-month high as automakers climb on tariff hopes
SEOUL: Round-up of South Korean financial markets:
South Korean shares track Wall Street lower, but set for weekly gain
South Korean shares rose for a third consecutive session and hit a one-month high on Tuesday, driven by automakers as investors took relief in signs that US President Donald Trump's tariffs may have a milder impact than feared.
The benchmark KOSPI was up 9.91 points, or 0.4%, at 2,558.77, as of 0134 GMT, and hit its highest level since March 28.
Trump's administration will move to reduce the impact of automotive tariffs by alleviating some duties imposed on foreign parts in domestically manufactured cars and keeping tariffs on cars made abroad from piling on top of other ones, officials said.
South Korea's exports are expected to have fallen in April, as Trump's tariffs, including those on autos and steel, started to weigh, a Reuters poll found.
Shares of Hyundai Motor added 0.85% and sister automaker Kia Corp gained 1.35%, leading gains in the benchmark index. The auto sector is expected to be hit hardest by US tariffs.
Among other index heavyweights, chipmaker Samsung Electronics rose 0.54% and peer SK Hynix lost 0.82%, while battery maker LG Energy Solution climbed 0.29%.
Of the total 934 traded issues, 572 shares advanced, while 302 declined.
Foreigners were net sellers of shares worth 213.6 billion won ($148.34 million).
The won was quoted at 1,439.5 per dollar on the onshore settlement platform, 0.19% lower than its previous close at 1,436.8.
In money and debt markets, June futures on three-year treasury bonds rose 0.03 point to 107.76.
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