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Kospi opens higher as markets react to Trump’s latest tariff plans

Published: 14 Feb. 2025, 10:24 Updated: 14 Feb. 2025, 10:33

CHO YONG-JUN
[email protected]

A screen in Hana Bank's trading room shows the Kospi opening on Feb. 14. [NEWS1]

Shares opened slightly higher Friday, tracking Wall Street gains, as U.S. President Donald Trump rolled out detailed plans regarding new tariffs on U.S. imports.

The benchmark Kospi added 4.11 points, or 0.16 percent, to 2,587.28 in the first 15 minutes of trading.

Trump signed a presidential memorandum on Thursday to devise a comprehensive plan to customize "reciprocal" tariffs, while dismissing any tariff exemptions or waivers.

The Korean government and companies are bracing for the impact of the potential sweeping tariffs on industries and the country's export-driven economy.

U.S. shares ended higher as investors shrugged off uncertainty regarding the tariff plan and welcomed peace talks between Trump and Russian President Vladimir Putin to end the Russia-Ukraine war.

The Dow Jones Industrial Average rose 0.77 percent, while the tech-heavy Nasdaq composite surged 1.5 percent.

In Seoul, large-cap shares opened mixed.

Samsung Electronics rose 0.9 percent while SK hynix fell 0.24 percent.

LG Energy Solution lost 0.42 percent.

Samsung Biologics increased 1.61 percent and Celltrion added 0.22 percent.

Hyundai Motor opened unchanged while Kia went up 0.32 percent.

Naver climbed 0.91 percent and Posco Holdings went up 0.41 percent.

The local currency was trading at 1,442.85 won against the greenback at 9:15 a.m., down 4.65 won from the previous session.

Yonhap