FX.co ★ South Korean Shares Hit One-Month High

The KOSPI index advanced by 1.1% on Friday to approximately 2,549 points, marking its highest point in a month and positioning it for a second weekly gain in a row. This rise mirrored the tech-driven surge seen on Wall Street, spurred by more relaxed US tariff discussions that bolstered investor sentiment, especially with increased optimism for a possible tariff reduction on Chinese goods in the near future. Contributing further to this uptick, South Korea and the US have agreed to pursue a tariff-relief package come July, with negotiations centering on the automotive, shipbuilding, energy, and currency sectors before reciprocating tariffs begin once again. Significant movers among the index's major players included chip manufacturers Samsung Electronics and SK Hynix, which rose by 1.1% and 2.9%, respectively. In shipbuilding, HD Hyundai Heavy Industries saw a more than 7% surge to reach a record high, HD Korea Shipbuilding & Offshore Engineering increased by 5%, approaching a peak last seen 13 years ago, and Hanwha Ocean—operator of a shipyard in Philadelphia—climbed over 6%, achieving its highest mark since early March. The upward trend extended to financial, battery, and automotive sectors as well.