FX.co ★ South Korea Shares Rise Amid Tariff Deadline Extension

The KOSPI index climbed by 1.5% on Tuesday, reaching approximately 3,105, building on the positive momentum from the previous trading session. This uptick came as investor worries diminished due to an extension of the US tariff deadline to August 1. President Trump had announced on Monday the implementation of new 25% tariffs for goods imported into the US from countries like Japan, South Korea, Malaysia, Kazakhstan, and Tunisia. In his letters, he mentioned that the US might "potentially" reconsider these tariff rates depending on the diplomatic relationship with each nation. This delay offered markets a temporary reprieve and sparked optimism that South Korea and the US might negotiate a trade agreement before the tariffs are enforced. On the corporate front, the gains were driven by advancements in major companies, including Samsung Electronics, up by 0.2%, SK Hynix with a 3.0% rise, LG Energy Solution by 0.2%, Hyundai Motor by 0.5%, KB Financial Group by 4.5%, Hanwha Aerospace by 0.8%, and Doosan Enerbility also gaining 4.5%.