South Korean shares extend rally on post-election hopes, US-China trade talks

SEOUL: Round-up of South Korean financial markets:

• South Korean shares rose for a fourth straight session on Monday, hitting a near 11-month high on post-election policy hopes, while investor focus was also on the US-China trade talks.

• The benchmark KOSPI was up 47.58 points, or 1.69%, at 2,859.63, as of 0123 GMT, touching its highest level since July 17, 2024.

• US President Donald Trump’s top aides will meet with their Chinese counterparts in London later in the day for talks aimed at resolving a trade dispute between the world’s two largest economies that has kept global markets on edge.

• Trump and South Korea’s new president Lee Jae-myung agreed to work toward a swift tariff deal in their first phone call since Lee was elected this week, Lee’s office said on Friday.

• Among index heavyweights, chipmaker Samsung Electronics rose 2.03%, while peer SK Hynix gained 2.67%. Battery maker LG Energy Solution slid 2.23%.

• Hyundai Motor and sister automaker Kia Corp were up 3.96% and 2.90%, respectively. Steelmaker POSCO Holdings added 0.97%, while drugmaker Samsung BioLogics rose 0.39%.

• Of the total 937 traded issues, 696 shares advanced, while 212 declined.

• Foreigners were net buyers of shares worth 244.8 billion won ($180.16 million).

• The won was quoted at 1,363.5 per dollar on the onshore settlement platform, 0.51% lower than its previous close at 1,356.5.

• In money and debt markets, June futures on three-year treasury bonds lost 0.08 point to 107.18.

• The most liquid three-year Korean treasury bond yield rose by 3.6 basis points to 2.449%, while the benchmark 10-year yield rose by 1.4 basis points to 2.907%.