South Korean shares rise for third day as auto, steelmakers jump

SEOUL, Feb 13 (Reuters) - Round-up of South Korean financial markets:

South Korean shares climbed for the third consecutive session on Thursday and hit the highest levels in three months, as automakers surged on optimism about a potential exemption from U.S. tariffs, while steelmakers saw a rebound.

The benchmark KOSPI .KS11 was up 10.88 points, or 0.43%, at 2,559.27, as of 0043 GMT, hitting its highest intraday level since early November 2024.

U.S. President Donald Trump said he would impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports, after introducing 25% tariffs on steel and aluminium imports on Monday.

Republican U.S. House of Representatives Speaker Mike Johnson said that he believes Trump is considering exemptions to reciprocal tariffs that include the automobile and pharmaceutical industries.

South Korea's free trade agreement with the United States could help mitigate its exposure to reciprocal tariffs threatened by Trump, economists said.

Shares of Hyundai Motor 005380.KS rose as much as 3.99%, the biggest daily jump in more than a month, while sister automaker Kia Corp 000270.KS climbed 3.6% after four sessions of declines.

Steelmaker POSCO Holdings 005490.KS rose 4.3%, while Hyundai Steel 004020.KS jumped 6.8%.

Among other index heavyweights, chipmakers and battery manufacturers rose, but biopharmaceutical stocks fell.

Of the total 939 traded issues, 478 shares advanced, while 376 declined.

Foreigners were net sellers of shares worth 222.1 billion won ($152.91 million).

The won was quoted at 1,452.9 per dollar on the onshore settlement platform KRW=KFTC, 0.21% higher than its previous close at 1,456.0.

The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 1.4 basis points to 2.666%, while the benchmark 10-year yield KR10YT=RR rose by 2.3 basis points to 2.905%.

($1 = 1,452.4500 won)