South Korean shares cut gains as US postpones trade talks
Korean won strengthens against dollar
South Korea benchmark bond yield little changed
SEOUL, - Round-up of South Korean financial markets:
** South Korean shares erased early gains on Thursday, as the U.S. suddenly postponed trade talks scheduled for Friday, raising uncertainty over tariff negotiations.
** The benchmark KOSPI was up 26.40 points, or 0.83%, at 3,210.17 as of 0211 GMT, after rising as much as 1.70% earlier in the session.
** Talks between top South Korean and U.S. officials to negotiate over U.S. President Donald Trump's tariffs have been postponed due to a scheduling conflict for U.S. Treasury Secretary Scott Bessent, South Korea's finance ministry said on Thursday.
** Hyundai Motor was down 0.45%, after falling as much as 1.80% on the news. The automaker rallied on Wednesday after Japan's trade deal with the U.S. raised hopes that South Korea might also get a cut in 25% auto tariffs.
** South Korea's economy grew at the fastest pace in more than a year in the second quarter, beating market expectations, buoyed by rebounding consumer spending and a surge in exports, driven by robust demand for technology.
** SK Hynix gained 1.58%, as the chipmaker flagged plans to boost spending this year after posting a record quarterly profit. Rival Samsung Electronics rose 0.38%.
** Among other index heavyweights, battery maker LG Energy Solution climbed 8.77%, while steelmaker POSCO Holdings added 0.15% and drugmaker Samsung BioLogics rose 3.20%.
** Of the total 935 traded issues, 280 shares advanced, while 606 declined.
** Foreigners were net buyers of shares worth 575.3 billion won .
** The won was quoted at 1,369.9 per dollar on the onshore settlement platform, 0.43% higher than its previous close at 1,375.8.
** The most liquid three-year Korean treasury bond yield rose by 1.2 basis points to 2.465%, while the benchmark 10-year yield rose by 0.7 basis point to 2.837%.
This article was generated from an automated news agency feed without modifications to text.
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