South Korean shares flat ahead of US tariff talks
- The benchmark KOSPI fell 1.19 points, or 0.05%, to 2,487.23
SEOUL: Round-up of South Korean financial markets:
South Korean shares little changed with focus on tariff talks
South Korean shares were little changed on Tuesday, with investors on the fence ahead of negotiations with the US over trade barriers.
The benchmark KOSPI fell 1.19 points, or 0.05%, to 2,487.23 as of 0118 GMT.
Finance Minister Choi Sang-mok has left for Washington, while Industry Minister Ahn Duk-geun will depart on Wednesday for trade consultations on April 24. The meeting was scheduled on the US’s request.
South Korea’s economy barely grew in the last quarter as persistent global trade risks and weak domestic demand continued to sap momentum, a Reuters poll found. The gross domestic product print is due on Thursday.
Among index heavyweights, chip and battery makers fell, tracking overnight losses in Nvidia and Tesla.
Countering their losses, e-commerce firms, drugmakers and steel manufacturers rose, while automakers traded flat.
Of the total 928 traded issues, 404 advanced and 450 declined.
Foreigners were net sellers of shares worth 18.4 billion won ($12.9 million).
The won was quoted at 1,425.6 per US dollar on the onshore settlement platform, 0.29% lower than Monday’s close at 1,421.5.
In the money and debt markets, June futures on three-year treasury bonds rose 0.01 point to 107.73.
The most liquid three-year Korean treasury bond yield fell 0.9 basis points to 2.321%, while the benchmark 10-year yield rose 0.8 basis points to 2.609%.