The KOSPI surged by 1.55%, closing at 2,856 on Monday, marking its highest level in almost eleven months. This rise was fueled by optimism surrounding a potential new tariff agreement between the United States and South Korea. Investor confidence was bolstered after Presidents Trump and Lee Jae-myung committed to initiating negotiations aimed at easing trade tensions and establishing a more equitable agreement. This initiative is anticipated to benefit key South Korean export sectors, including semiconductors, automobiles, and shipbuilding. On the corporate side, major gainers were SK Hynix, which rose by 2.12%, Samsung Electronics by 1.10%, Hyundai Motor by 4.11%, and KB Financial Group by 3.29%. In contrast, LG Energy Solution and Hanwha Aerospace experienced declines, falling by 1.72% and 2.76%, respectively. The prospect of reduced tariffs and stronger economic ties with the U.S. boosted market confidence, especially in the technology and manufacturing sectors, reinforcing an optimistic outlook for Korea’s export-dependent economy.
The material has been provided by InstaForex Company – www.instaforex.com
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