South Korean shares set for fourth weekly gain on trade deal hopes

ReutersMay 9, 2025 3:28 AM

KOSPI falls, foreigners net sellers
Korean won weakens against dollar
South Korea benchmark bond yield rises

SEOUL, May 9 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares were set to log their fourth straight weekly rise amid optimism around U.S. trade talks with major countries, while the benchmark index was largely flat on Friday as automakers offset losses in battery makers.

** The benchmark KOSPI .KS11 was down 2.06 points, or 0.08%, at 2,577.42 as of 0259 GMT. For the week, it was up 0.6%.

** President Donald Trump and British Prime Minister Keir Starmer on Thursday announced a limited bilateral trade agreement that leaves in place Trump's 10% tariffs on British exports, modestly expands agricultural access for both countries and lowers prohibitive U.S. duties on British car exports.

** China has full confidence in its ability to manage U.S. trade issues, Vice Foreign Minister Hua Chunying said on Friday, a day before officials are set to meet in Switzerland to discuss the tariffs they have imposed on each other.

** South Korea is scheduled to have another meeting with the U.S. next week, after they agreed to craft a trade package by July.

** Among South Korean index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.09%, while peer SK Hynix 000660.KS lost 1.26%. Battery maker LG Energy Solution 373220.KS slid 3.05%.

** Hyundai Motor 005380.KS and sister automaker Kia Corp 000270.KS were up 2.03% and 2.62%, respectively. Steelmaker POSCO Holdings 005490.KS added 0.19%, while drugmaker Samsung Biologics 207940.KS rose 0.10%.

** Of the total 936 traded issues, 336 shares advanced, while 547 declined.

** Foreigners were net sellers of shares worth 19.5 billion won ($13.9 million).

** The won was quoted at 1,412.5 per dollar on the onshore settlement platform KRW=KFTC, 0.40% lower than its previous close at 1,406.9.

** In money and debt markets, June futures on three-year treasury bonds KTBc1 lost 0.14 point to 107.67.

** The most liquid three-year Korean treasury bond yield KR3YT=RR rose by 4.4 basis points to 2.323%, while the benchmark 10-year yield KR10YT=RR rose by 4.0 bps to 2.666%.

($1 = 1,399.7000 won)

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