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Kospi closes up 0.88% on tariff reprieve optimism

Published: 15 Apr. 2025, 16:31

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,477.41 points on April 15, up 21.52 points, or 0.88 percent, from the previous trading session. [YONHAP]

Shares closed higher for the second straight session on Tuesday, moving in line with overnight U.S. stock gains on eased concerns over U.S. President Donald Trump's tariff measures. The won fell in value against the dollar.

The Kospi rose 21.52 points, or 0.88 percent, to close at 2,477.41.

Trade volume was moderate at 550.7 million shares worth 6.4 trillion won ($4.49 billion), with winners beating losers 707 to 179.

Institutions bought a net 182.8 billion won worth of stocks, while retail and foreign investors combined sold a net 266.6 billion won.

Overnight, Wall Street closed higher following Trump's announcement of an exemption from reciprocal tariffs for smartphones, computers and other electronics over the weekend.

The president on Monday also suggested considering pausing Washington's auto parts tariffs to give global suppliers more time to relocate production to the United States.

"Trump's indication of a short-term pause of tariffs on auto parts could serve as a temporary positive catalyst," said Han Ji-young, an analyst at Kiwoom Securities.

The S&P 500 gained 0.79 percent, the Dow Jones Industrial Average climbed 0.78 percent, and the tech-heavy Nasdaq composite rose 0.64 percent.

In Seoul, chip and automotive shares led the overall gains.

Market bellwether Samsung Electronics climbed 0.71 percent to 56,600 won, and chip rival SK hynix gained 0.22 percent to end at 180,600 won.

Hyundai Motor jumped 4.29 percent to 187,000 won and its affiliate Kia climbed 3.37 percent to 85,800 won following Trump's signaling of a potential reprieve on auto parts tariffs.

Financial and internet portal shares also advanced, with KB Financial adding 2.5 percent to end at 78,000 won and portal operator Naver rising 0.66 percent to 183,900 won.

The local currency was trading at 1,425.5 won against the dollar at 3:30 p.m., up 1.4 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds fell 0.9 basis points to 2.40 percent, and the return on the benchmark 10-year U.S. government bonds dropped 11.6 basis points to 4.38 percent.

Yonhap