Seoul Stocks Close Up Amid Tariff Concerns

SEOUL, Feb. 11 -- South Korean stocks ended higher on Tuesday as investors showed resilience against worries about a potential global tariff war sparked by U.S. President Donald Trump’s latest tariff proposals. Meanwhile, the local currency weakened against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) increased by 17.78 points, or 0.71 percent, ending at 2,539.05. This marked a recovery following two consecutive days of losses.

The trading volume was stable, with 439.21 million shares exchanged, valued at 10.57 trillion won (approximately US$7.27 billion). The number of shares that gained in value outnumbered those that fell, with 469 stocks rising compared to 408 that declined.

Investors from foreign and institutional sectors were net buyers, purchasing a total of 144.09 billion won and 245.73 billion won worth of local shares, respectively. In contrast, retail investors sold shares valued at a net 472.61 billion won.

The KOSPI opened on a positive note, reflecting gains in Wall Street the previous night, and maintained its upward trend despite Trump officially declaring a 25 percent tariff on all steel and aluminum imports into the United States.

The White House indicated that this tariff would also affect all steel imports from South Korea, as well as from Japan, the European Union, and other countries, starting on March 12.

Han Ji-young, a market expert at Kiwoom Securities, commented, "Trump's tariff policy could lead to increased market volatility. However, the market seems to have already priced in this issue over the past few months."

Major sectors saw some gains, particularly in technology and biotechnology stocks. The market leader, Samsung Electronics, rose subtly by 0.18 percent to 55,700 won, while chip manufacturer SK hynix climbed 0.81 percent to 199,700 won.

In the biotechnology sector, Samsung Biologics experienced a significant jump of 3.89 percent to 1,174,000 won, and Celltrion increased by 0.39 percent to 179,700 won.

However, LG Energy Solution, a major player in the electric vehicle battery market, dropped by 1.01 percent to 343,000 won following profit-taking activities. The top steel manufacturer, POSCO Holdings, saw its shares decrease by 0.84 percent to 235,000 won, while Hyundai Steel's shares remained unchanged at 21,700 won.

Hyundai Motor, the leading automaker, saw no change in its share price, remaining at 199,400 won, while its affiliate Kia Motors fell by 0.85 percent to 93,800 won.

Among other gainers, major portal operator Naver rose by 0.44 percent to 228,500 won, and Kakao, which runs South Korea's leading mobile messaging service, saw a jump of 0.82 percent to 42,850 won.

By 3:30 PM, the local currency was trading at 1,452.6 won against the U.S. dollar, reflecting a decline of 1.4 won from the previous session.

Stocks, Market, Tariffs