South Korean shares little changed with focus on tariff talks
SEOUL: Round-up of South Korean financial markets:
South Korean shares set to snap 3-week decline on tariff negotiation hopes
South Korean shares were little changed on Monday as investors awaited tariff talks with the US scheduled for later this week.
The benchmark KOSPI was down 0.33 points, or 0.03%, at 2,482.65 as of 0451 GMT, after rising as much as 0.6% earlier in the session.
South Korea's acting President Han Duck-soo said he expected trade talks with the United States this week in Washington to be the start of meaningful cooperation, but added that negotiations may not be easy.
South Korea's leading presidential candidate, Lee Jae-myung, pledged to revive legislation to curb abuses by controlling shareholders as part of a plan to boost the stock market and eliminate the so-called 'Korea Discount', a tendency of lower valuations compared with global peers.
Among index heavyweights, chipmaker Samsung Electronics rose 0.18% and peer SK Hynix gained 0.97%, but battery maker LG Energy Solution slid 1.04%.
Hyundai Motor added 0.05% and sister automaker Kia Corp gained 0.80%, while search engine Naver and instant messenger Kakao were up 0.27% and down 0.51%, respectively.
Of the total 934 traded issues, 419 shares advanced, while 462 declined.
Foreigners were net sellers of shares worth 272.9 billion won ($192.4 million).
The won was quoted 0.38% higher at 1,418.2 per dollar on the onshore settlement platform.
In the money and debt markets, June futures on three-year treasury bonds rose 0.05 points to 107.66.
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