ANN/THE KOREA HERALD – South Korean stocks finished remained yesterday amid United States (US) President Donald Trump’s pledge to impose sweeping tariffs.
The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index lost 0.65 point, or 0.03 per cent, to close at 2,521.27.
Trade volume was moderate at 386.81 million shares worth KRW10.38 trillion (USD7.15 billion), with losers outnumbering winners 454 to 414.
Foreigners and retail investors sold a net KRW277.24 billion and KRW74 billion worth of local shares, respectively, while institutions bought a net KRW266.91 billion worth of shares.
The index opened markedly lower and had moved in and out of positive terrain on news that Trump’s will soon announce a new 25 per cent tariff on all steel and aluminium imports into the US, as well as reciprocal tariffs to take effect almost immediately.
“New tariff policies by the US government have long been anticipated, though short-term volatility is expected as eyes are also on the US’ consumer inflation,” expert from Kiwoom Securities Han Ji-young said. Top-cap shares ended mixed.
