Seoul shares rise for 2nd day amid cautious tariff optimism
South Korean stocks finished marginally higher Monday as investors assessed last week's talks between South Korea and the United States on the latter's sweeping tariff scheme. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 2.56 points, or 0.1 percent, to close at 2,548.86.
Trade volume was moderate at 449.07 million shares worth 7.73 trillion won ($5.35 billion), with losers beating winners 519 to 366.
The index opened markedly higher and moved within a tight range throughout the session.
Institutions purchased a net 95.99 billion won worth of stocks, while individuals and foreigners shed 55.25 billion won and 107.82 billion won worth of shares, respectively.
"The market has been digesting tariff-related noise through a series of price adjustments. Now, investors are also focusing on corporate earnings, and sector-specific divergence is expected to become more pronounced," said Han Ji-young, an analyst at Kiwoom Securities.
During the first round of tariff talks held in Washington on Thursday, South Korea and the US agreed to make joint efforts to craft a "package" deal on new US tariffs and economic cooperation issues by July 8, when the 90-day pause of US President Donald Trump's administration's sweeping tariffs is set to be lifted.
Working-level talks will kick off this week for setting details.
Top-cap shares traded mixed.
Tech giant Samsung Electronics edged up 0.18 percent to 55,800 won, while its rival SK hynix sank 1.3 percent to 182,000 won.
Major battery maker LG Energy Solution rose 0.73 percent to 346,000 won, but leading chemical firm LG Chem shed 1.56 percent to 221,000 won.
Leading biotech firm Samsung Biologics increased 0.19 percent to 1.04 million won, while Celltrion shed 0.19 percent to 158,000 won.
Shipbuilders fell on profit-taking. Leading shipbuilder HD Hyundai Heavy lost 0.87 percent to 399,500 won, and its rival Hanwha Ocean dipped 0.67 percent to 89,300 won.
But carmakers finished higher. Top carmaker Hyundai Motor edged up 0.11 percent to 189,000 won, and its sister Kia Motors climbed 0.57 percent to 88,700 won.
Industry leader steelmaker Posco Holdings climbed 0.96 percent to 262,500 won, and top online portal operator Naver jumped 1.03 percent to 195,500 won.
No. 1 mobile carrier SK Telecom nose-dived 6.75 percent to 53,900 won following a recent network hacking incident.
The local currency was quoted at 1,442.6 won against the greenback at 3:30 p.m., down 6.1 won from the previous session. (Yonhap)
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