South Korean shares end lower on US tariff worries

KOSPI falls, foreigners net sellers

Korean won little changed against US dollar

South Korea benchmark bond yield falls

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SEOUL, – Round-up of South Korean financial markets:

** South Korean shares fell on Tuesday as U.S. President-elect Donald Trump’s pledge to impose tariffs weighed on investor sentiment.

** The benchmark KOSPI tumbled 0.9% during the day, but cut losses on views that Trump’s comments suggested the tariffs would more likely be bargaining chips and closed down 13.98 points, or 0.55%, at 2,520.36.

** Trump pledged tariffs on the United States’ three largest trading partners Canada, Mexico and China, and detailed how he would implement campaign promises that could trigger trade wars.

** “The KOSPI cut losses on views that the conditions attached to Trump’s comments suggest tariffs are more likely to be bargaining chips and might not be as heavy as he says,” said Park Kwang-nam, an analyst at Mirae Asset Securities.

** The Bank of Korea on Thursday is expected to keep the key policy rate at 3.25% to support the won, according to a Reuters poll, with a majority of economists forecasting at least three rate cuts next year.

** Battery maker LG Energy Solution slid 3.2%, weighing the most on the index, after its U.S. customer Tesla’s overnight loss of 4% on uncertainty over electric vehicle subsidies.

** Chipmakers, automakers and e-commerce firms gained, while biopharmaceutical manufacturers fell.

** Defence stocks declined, with LIG Nex1 falling 8.7% and Hanwha Aerospace plunging 11%, tracking losses in U.S. peers.

** Of the total 939 traded issues, 487 advanced and 391 declined.

** Foreigners were net sellers of shares worth 34.2 billion won on the main board.

** The won was quoted at 1,398.2 per U.S. dollar on the onshore settlement platform, 0.06% higher than its previous close at 1,399.0.

** The most liquid three-year Korean treasury bond yield fell by 0.9 basis points to 2.770%, while the benchmark 10-year yield fell by 3.8 basis points to 2.901%.

This article was generated from an automated news agency feed without modifications to text.