FX.co ★ South Korean Shares Edge Higher

The KOSPI index experienced a slight increase of 0.1%, reaching approximately 2,491 points on Tuesday. This uptick extends the upward trend seen in the previous session, fueled by sustained optimism regarding the forthcoming trade discussions between South Korea and the United States. South Korean Finance Minister Choi Sang-mok has already traveled to Washington in preparation for these talks, with Industry Minister Ahn Duk-geun scheduled to join on Wednesday for discussions initiated by the US on April 24. However, the KOSPI's gains were somewhat restrained due to a lackluster performance on Wall Street, which followed intensified criticism from former President Trump towards Federal Reserve Chair Jerome Powell, raising concerns about the Fed's autonomy. In economic developments, South Korea saw its producer inflation rate rise by 1.3% in March compared to the same month last year, down from 1.5% in February, the lowest since November. Leading the market were shares of major shipbuilders and software companies, such as Hyundai Heavy Industries, which rose by 1.3%, Korea Shipbuilding & Offshore Engineering by 0.7%, Naver by 3.8%, and Kakao by 0.6%. Investors are now focused on the upcoming release of preliminary GDP figures for the first quarter of 2025, expected on Thursday.