FX.co ★ South Korean Shares Open a Tad Lower

On Thursday, the benchmark KOSPI saw a slight decline of 0.1%, settling at approximately 2,638 points. This downturn reversed a robust 1.2% gain from the previous day. The shift was driven by investors looking to secure recent profits amidst alleviated concerns over tariffs. Additionally, the initial enthusiasm regarding the US-China trade deal began to wane, with analysts pointing out its limited effect on the broader perspectives for corporate earnings and economic growth. Attention is now focused on upcoming developments as US Trade Representative Greer is set to meet South Korea's trade chief during the APEC meeting, following up on last month's discussions in Washington. Political uncertainty also weighed heavily on the market sentiment, as presidential candidates engaged in negative rhetoric rather than presenting substantive policy proposals. Within the index, sectors such as shipbuilding, automotive, and biopharmaceuticals experienced notable losses, with Hyundai Heavy Industries down 2.4%, Hyundai Motor losing 1.2%, and Samsung Biologics falling 0.7%. In contrast, notable gainers included Samsung Electronics, which rose by 1.4%, LG Energy Solutions, up by 1.3%, and Hanwha Aerospace, which gained 2%.