18-02-2025
Seoul shares rise for 6th day on tech gains
Seoul shares extended their winning streak to a sixth day Tuesday on the back of gains in tech stocks, with investors remaining cautious about US tariff policies. The Korean won fell against the US dollar.
The benchmark Korea Composite Stock Price Index rose 16.39 points, or 0.63 percent, to close at 2,626.81.
Trade volume was moderate at 412.18 million shares worth 12.34 trillion won ($8.5 billion), with winners outnumbering losers 478 to 395.
Institutions bought a net 165.37 billion won worth of stocks and foreigners also purchased 17 billion won of stocks. But individuals sold a net 188 billion won of stocks.
"Investor concerns over new Trump tariffs remain but the worries have eased a bit and better-than-expected fourth-quarter corporate earnings boosted investor sentiment," No Dong-kil, an analyst at Shinhan Securities Co., said by phone.
The US government recently ordered a 25 percent tariff on all steel and aluminum imports and unveiled a sweeping plan to impose reciprocal tariffs on trading partners.
It also plans to impose tariffs on auto imports starting April 2, which will apparently affect the Korean car industry.
In Seoul, tech and auto stocks led gains.
Market bellwether Samsung Electronics rose 1.6 percent to 56,900 won and top carmaker Hyundai Motor climbed 0.4 percent to 200,500 won.
Air carriers also advanced, with national flag carrier Korean Air rising 0.8 percent to 24,050 won and Asiana Airlines up 1.4 percent to 10,590 won.
Among decliners, cosmetics firm Amorepacific fell 2.9 percent to 115,000 won and leading battery maker LG Energy Solution declined 0.9 percent to 350,500 won.
The local currency was quoted at 1,443.70 won against the greenback at 3:30 p.m., down 2 won from the previous session. (Yonhap)
