Seoul shares rise to 3-month high amid eased Trump tariff uncertainty

South Korean stocks rose to the highest level in more than three months Friday as U.S. President Donald Trump’s announcement of some details about his new tariff scheme helped ease uncertainties. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 7.88 points, or 0.31 percent, to close at 2,591.05, extending a winning streak to a fourth session.

It marked the highest level since Oct. 30, 2024, when the index finished at 2,593.79. From a week earlier, the index rose 2.14 percent.

Trade volume was a bit heavy at 491.98 million shares worth 13.67 trillion won (US$9.47 billion) Friday, with winners outnumbering losers 496 to 365.

Institutions bought a net 364.35 billion won worth of local shares, while foreign and retail investors sold a net 320.75 billion won and 64.4 billion won, respectively.

The index opened higher and had maintained the momentum, after Trump signed a presidential memorandum Thursday (U.S. time) to devise a comprehensive plan to customize “reciprocal” tariffs, with the study on the new scheme to be completed by April 1.

“Investors have become less sensitive to the tariff issue, and the recent announcement further eased uncertainties regarding the new tariff scheme,” Lee Sung-hoon, an expert from Kiwoom Securities, said.

Acting President Choi Sang-mok said the impact of the U.S. tariff policy may not have a huge impact on the South Korean economy as the countries have continued to reduce their tariff rates over the years to an average 0.79 percent last year, with plans to further lower their rates under the Korea-U.S. free trade agreement.

He still instructed the government to review non-tariff barriers and other issues to best respond to the new U.S. tariff scheme.

Investors also welcomed peace talks between Trump and Russian President Vladimir Putin on ways of ending the Russia-Ukraine war.

Chip and bio shares led the upturn of the index.

Market bellwether Samsung Electronics added 0.36 percent to 56,000 won, and chip giant SK hynix rose 0.72 percent to 210,000 won.

Leading bio firm Samsung Biologics edged up 0.08 percent to 1,180,000 won, and Celltrion surged 1.63 percent to 180,800 won.

Leading electric vehicle (EV) battery maker LG Energy Solution sank 1.4 percent to 353,000 won on profit-taking.

Carmakers ended mixed. No. 1 carmaker Hyundai Motor tumbled 1.2 percent to 206,000 won, while its sister affiliate Kia went up 0.74 percent to 95,000 won.

Among gainers, leading portal operator Naver increased 0.45 percent to 221,000 won, and top steelmaker POSCO Holdings rose 0.2 percent to 247,000 won on bargain hunting.

The local currency was quoted at 1,443.5 won against the greenback at 3:30 p.m., up 4 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys shed 2 basis points to 2.611 percent, and the return on the benchmark five-year government bonds fell 2.1 basis points to end at 2.711 percent.