South Korean shares closed down on Monday after U.S. President Donald Trump announced tariffs on imports from Canada, Mexico and China, sparking fears of a hit to global trade demand. The won weakened, while the benchmark bond yield fell.
The benchmark KOSPI closed down 63.42 points, or 2.52%, at 2,453.95.
Among index heavyweights, chipmaker Samsung Electronics fell 2.67% and peer SK Hynix lost 4.17%, while battery maker LG Energy Solution slid 4.40%.
Hyundai Motor shed 1.94% and sister automaker Kia Corp lost 5.78%, while search engine Naver and instant messenger Kakao were up
0.23% and up 9.00%, respectively.
South Korean exports fell in January, declining for the first time in 16 months and at the sharpest pace in 1-1/2 years due to U.S. tariff uncertainty and unfavourable calendar effects, preliminary data released on Saturday showed.
South Korean shares fall on weaker-than-expected GDP data
OpenAI Founder Altman will be visiting South Korea for an artificial intelligence event and meet with business leaders, local Yonhap News reported.
Of the total 942 traded issues, 96 shares advanced, while 825 declined.
Foreigners were net sellers of shares worth 870.6 billion won ($593.93 million).
The won was quoted at 1,467.2 per dollar on the onshore settlement platform, 0.93% lower than its previous close.
In offshore trading, the won was quoted at 1,465.5 per dollar, down 0.7%, while in non-deliverable forward trading its one-month contract was quoted at 1,463.5.
The won has gained 0.3% against the dollar so far this year.
In money and debt markets, March futures on three-year treasury bonds rose 0.02 point to 106.90.
The most liquid three-year Korean treasury bond yield fell 0.3 basis point to 2.577%, while the benchmark 10-year yield slipped 1.5 bps to 2.840%.
Source: Brecorder
