South Korean shares post biggest fall in a month as automakers slump on US tariffs

SEOUL, March 27 (Reuters) - Round-up of South Korean financial markets:

South Korean shares fell more than 1% on Thursday, as automakers slumped on U.S. President Donald Trump's fresh tariffs on automobile imports.

The benchmark KOSPI .KS11 ended down 36.79 points, or 1.39%, at 2,607.15, marking its biggest daily fall since February 28 and the lowest closing level since March 14.

Trump said on Wednesday a 25% import tax on automobiles not built in the U.S. would be imposed from April 3.

"The announcement was earlier and stronger than expected," said Lee Kyoung-min, an analyst at Daishin Securities.

South Korea's auto sector is expected to face "considerable difficulties", the country's industry minister Ahn Duk-geun said, as he vowed to prepare an emergency response by April.

Hyundai Motor 005380.KS shed 4.28%, its biggest drop since October 24, 2024, and sister automaker Kia Corp 000270.KS lost 3.45%.

Most other index heavyweights also fell, including battery makers, steel manufacturers, e-commerce firms and biopharmaceutical stocks, but chipmaker Samsung Electronics 005930.KS rose.

Of the total 941 traded issues, 282 shares advanced, while 611 declined.

Foreigners were net buyers of shares worth 87.8 billion won ($59.92 million).

The won was quoted at 1,465.3 per dollar on the onshore settlement platform KRW=KFTC, 0.14% higher than its previous close at 1,467.3.

In money and debt markets, June futures on three-year Treasury bonds KTBc1 rose 0.01 point to 106.75.

The most liquid three-year Korean treasury bond yield KR3YT=RR rose 0.6 basis point to 2.623%, while the benchmark 10-year yield KR10YT=RR fell 1.0 bp to 2.840%.

($1 = 1,465.3700 won)