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Seoul Markets Take a Hit 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 Thursday. (Yonhap)]Seoul shares opened lower Thursday, bucking overnight gains on Wall Street as investors remain concerned over US President Donald Trump’s latest tariff threats.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.73 points, or 0.4 percent, to 3,173.65 in the first 15 minutes of trading.

On Wednesday, the Dow Jones Industrial Average rose 0.53 percent to 44,254.78, while the tech-heavy Nasdaq composite climbed 0.25 percent to 20,730.49.

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

In Seoul, large-cap stocks showed mixed performance.

Top automaker Hyundai Motor dipped 0.24 percent, while semiconductor giant SK hynix plummeted 6.08 percent.

Leading steelmaker Posco Holdings slipped 0.16 percent, and major shipping company HMM declined 0.6 percent.

Among the gainers, market heavyweight Samsung Electronics rose 0.93 percent, and leading battery manufacturer LG Energy Solution advanced 0.64 percent.

National flag carrier Korean Air edged up 0.19 percent, while defense contractor Hanwha Aerospace surged 1.64 percent.

The Korean won weakened against the US dollar, trading at 1,389.10 won per dollar as of 9:15 a.m., down 3.4 won from the previous session’s close. (Yonhap)

koreaherald
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