FX.co ★ South Korean Shares Start the Week Higher

The KOSPI index saw a 0.7% increase, reaching approximately 2,594 points on Monday, successfully overturning the losses sustained in Friday's session. This positive movement was driven by a sense of optimism following US-China trade negotiations held in Geneva over the weekend. Although specific details remain vague, both countries have announced that "substantial progress" was achieved in their talks aimed at reducing trade tensions. US Treasury Secretary, Scott Bessent, characterized the discussions as productive, while Chinese Vice Premier, He Lifeng, highlighted that an "important consensus" was reached. Investors are keenly awaiting further details on the trade agreement, with a joint statement anticipated on Monday. On the domestic front, South Korea's official campaigning for the June 3 presidential election kicks off on Monday, following the closure of candidate registrations, initiating 22 days of public engagement. Within the KOSPI index, sectors such as semiconductors, automotive, and financials led the growth, with notable advances from SK Hynix (2.5%), Hyundai Motor (1.2%), and Shinhan Financial (1.8%).