SEOUL: Round-up of South Korean financial markets:
South Korean shares fell on Monday after U.S. President Donald Trump said he is imposing tariffs on the exports of Canada, Mexico and China, sparking fears the move could shrink demand for global trade.
The won weakened more than 1% against the U.S. dollar, while the benchmark bond yield fell.
The blue-chip KOSPI shed 71.07 points, or 2.82%, to 2,446.30 as of 02:20 GMT.
Among index heavyweights, chipmaker Samsung Electronics fell 2.67% and peer SK Hynix lost 4.37%. Battery maker LG Energy Solution slid 3.84%.
Hyundai dropped 1.70% and sister automaker Kia shed 5.69%. Search engine Naver and instant messenger Kakao dipped 0.46% and gained 4.43%, respectively.
South Korean exports fell in January, declining for the first time in 16 months and at the sharpest pace in a year and a half due to U.S. tariff uncertainty and unfavourable calendar effects, preliminary data released on Saturday showed.
The country’s retail sales declined in December 2024, reflecting weak consumer spending and the fallout of impeached President Yoon Suk Yeol’s martial law declaration during what is usually one of the busiest shopping periods, government data showed.
South Korean shares fall on weaker-than-expected GDP data
Of the total 940 traded issues, 88 advanced and 840 declined.
Foreigners net sold shares worth 484.1 billion won ($329.4 million) on the main board on Monday.
The won was quoted at 1,470.0 per dollar on the onshore settlement platform, 1.12% lower than Friday’s close at 1,453.5.
In offshore trading, the won was quoted at 1,470.3 per dollar, down 1.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,468.3.
The most liquid three-year Korean treasury bond yield rose by 0.4 basis point to 2.584%, while the benchmark 10-year yield fell by 0.2 basis point to 2.853%.
Source: Brecorder
