South Korean stocks set to gain most in 17 months on US tariff pause

SEOUL, April 10 (Reuters) - Round-up of South Korean financial markets:

South Korean shares jumped more than 4% on Thursday in their sharpest rally in 17 months as U.S. President Donald Trump announced a sudden pause in tariffs.

The benchmark KOSPI .KS11 added 107.87 points, or 4.71%, to 2,401.64 as of 0047 GMT. It is set for its biggest daily percentage rise since November 6, 2023.

Earlier in the session, the "sidecar" rule was triggered a second time this week after Monday when futures fell sharply. The rule is activated when futures gain or lose more than 5%.

In a stunning reversal, Trump announced a 90-day pause on the hefty duties imposed on dozens of trade partners, while raising the China duties to 125%.

The tariff reprieve has provided room for negotiations, South Korea's top trade envoy Cheong In-kyo said, as the country seeks to reduce tariffs through talks.

Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 4.34% and peer SK Hynix 000660.KS soared 11.03%. Battery maker LG Energy Solution 373220.KS climbed 5.89%.

Hyundai Motor 005380.KS added 6.40% and sister automaker Kia 000270.KS gained 4.06%. Steelmakers and drugmakers also advanced.

Of the total 930 traded issues, only 34 fell.

Foreigners were net buyers of shares worth 206.8 billion won ($141.9 million) after nine straight sessions of sell-offs.

The won was quoted 1.12% higher at 1,455.7 per U.S. dollar on the onshore settlement platform KRW=KFTC, after gaining as much as 1.8%.

In the money and debt markets, June futures on three-year treasury bonds KTBc1 fell 0.06 point to 107.30.

The most liquid three-year Korean treasury bond yield KR3YT=RR rose 2.0 basis points to 2.453%, while the benchmark 10-year yield KR10YT=RR fell 1.9 basis points to 2.709%.

($1 = 1,457.7000 won)