Seoul shares close nearly unchanged amid lingering tariff woes
South Korean stocks closed nearly flat Tuesday following the previous session's sharp gains amid lingering concerns about US President Donald Trump's sweeping tariff measures. The local currency fell against the greenback.
The benchmark Korea Composite Stock Price Index rose 1.65 points, or 0.06 percent, to close at 2,612.34, extending the winning streak to a second straight session.
Trade volume was a bit heavy at 431.5 million shares worth 11.86 trillion won ($8.17 billion), with winners outpacing losers 434 to 430.
The market opened markedly higher, tracking overnight gains on Wall Street, but soon lost momentum and moved within a tight range as investors moved to lock in profits from recent gains. The index rose nearly 2 percent on Monday.
Foreign investors and institutions bought a net 444.56 billion won and 92.11 billion won worth of shares, respectively, while retail investors sold a net 610.93 billion won.
"There exist both upside and downside risks in the market, as investors remain wary of Trump's tariff policies, while concerns about US consumer sentiment have somewhat eased," Han Ji-young, an analyst at Kiwoom Securities, said.
Eyes are also on messages from Nvidia CEO Jensen Huang to be delivered early Tuesday during GTC 2025, or the GPU Technology Conference 2025, under way in California.
The annual event, hosted by the US tech firm, kicked off Monday to continue through Friday, with a focus on artificial intelligence, robotics and other advanced technologies.
Top-cap shares ended mixed.
Market bellwether Samsung Electronics closed unchanged at 57,600 won, while chip giant SK hynix sank 1.46 percent to 203,000 won on profit taking.
Top battery maker LG Energy Solution stayed flat at 325,000 won, but leading chemical firm LG Chem dropped 1.49 percent to 231,500 won.
Major bio firm Samsung Biologics surged 1.4 percent to 1,084,000 won, while Celltrion shed 0.21 percent to 187,400 won.
Carmakers also finished mixed. Top automaker Hyundai Motor advanced 0.75 percent to 200,500 won, but its sister affiliate Kia dipped 2.43 percent to 96,400 won.
Among gainers, leading defense equipment manufacturer Hanwha Aerospace surged 1.46 percent to 764,000 won, and major financial firm KB Financial climbed 1.65 percent to 80,200 won.
But top portal operator Naver decreased 0.95 percent to 209,000 won, and leading steelmaker POSCO Holdings slid 0.65 percent to 305,000 won.
The local currency was trading at 1,452.9 won against the US dollar at 3:30 p.m., down 5.0 won from the previous session. (Yonhap)
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