Seoul shares rise for 3rd day; tariff talks in focus

South Korean stocks finished slightly higher Monday as investors await upcoming tariff negotiations with the United States. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 5.0 points, or 0.2 percent, to close at 2,488.42, extending its winning streak to a third session.

Trade volume was slim at 423.58 million shares worth 5.18 trillion won (US$3.66 billion), with winners beating losers 499 to 370.

Individuals and institutions purchased a net 185.52 billion won and 23.79 billion won worth of shares, respectively, while foreigners sold a net 288.35 billion won worth of stocks.

The index opened a tad lower and had moved within a tight range throughout the session.

Eyes are on the tariff talks to be held in Washington on Thursday (U.S. time), following the Donald Trump administration’s announcement of a 90-day pause on the 25 percent reciprocal tariffs on South Korean imports.

South Korea is among the first nations to sit down with the U.S. for the crucial negotiations, with Japan having begun its talks last week.

Acting President Han Duck-soo acknowledged that the talks “will not be easy,” vowing to make all-out efforts to find “a mutually beneficial solution.”

Wall Street was closed on Friday in observance of the Christian holiday, Good Friday.

Tech shares led the upturn of the index.

Tech giant Samsung Electronics added 0.18 percent to 55,400 won, and its rival SK hynix advanced 0.91 percent to 176,600 won.

Leading biotech firm Samsung Biologics soared 2.19 percent to 1.07 million won.

But major battery maker LG Energy Solution lost 1.63 percent to 332,500 won.

Industry leader Hyundai Motor edged up 0.05 percent to 187,300 won, and its sister Kia increased 0.8 percent to 88,000 won.

Top online portal operator Naver finished unchanged at 187,500 won, while leading steelmaker POSCO Holdings went down 0.79 percent to 251,000 won.

The local currency was quoted at 1,419.1 won against the greenback at 3:30 p.m., up 4.2 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys dropped 3.1 basis points to 2.331 percent, and the return on the benchmark five-year government bonds fell 2.3 basis points to 2.441 percent.