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Seoul Stocks Slip as Trump’s Tariff Threats Loom Large

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)]Seoul shares opened lower Tuesday, bucking overnight gains on Wall Street, as investors remained cautious over US President Donald Trump’s latest tariff threats.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.34 points, or 0.39 percent, to 3,189.69 in the first 15 minutes of trading.

Trump has notified key US trading partners of new tariff rates set to take effect Aug. 1 unless they offer improved terms in ongoing negotiations.

Overnight, the Dow Jones Industrial Average rose 0.2 percent to 44,459.65, while the tech-heavy Nasdaq composite climbed 0.27 percent to 20,640.33.

In Seoul, large-cap stocks showed mixed performance.

Top automaker Hyundai Motor fell 1.6 percent, leading shipbuilder HD Hyundai declined 0.43 percent, and steel giant POSCO Holdings shed 0.93 percent.

Chipmaker SK hynix dropped 3 percent, chemical manufacturer LG Chem lost 0.73 percent, and Samsung SDI, the second-largest battery maker, declined 0.77 percent.

Among the gainers, market bellwether Samsung Electronics rose 0.64 percent, and top battery maker LG Energy Solution climbed 0.6 percent.

State-run utility Korea Electric Power Corp. jumped 4.06 percent, while leading wireless carrier SK Telecom edged up 0.09 percent.

The Korean won was trading at 1,384.8 against the US dollar at 9:15 a.m., down 3.6 won from the previous session’s close. (Yonhap)

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