Kospi opens lower after Trump's latest comments on tariffs
Published: 20 Feb. 2025, 10:13
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opeing on Feb. 20. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/02/20/f958d16d-5139-4ae5-b48b-c75273a28316.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opeing on Feb. 20. [YONHAP]
Shares opened lower Thursday after U.S. President Donald Trump said he will announce tariffs on cars, chips and pharmaceuticals "over the next month or sooner."
The Kospi fell 6.08 points, or 0.23 percent, to 2,665.44 in the first 15 minutes of trading.
Trump recently ordered a 25 percent tariff on all steel and aluminum imports and threatened to impose tariffs of around 25 percent on automobile, semiconductor and pharmaceutical imports as early as April 2.
In Seoul, auto and shipbuilding stocks led declines.
Hyundai Motor fell 0.49 percent, Kia declined 1.16 percent and Hyundai Mobis shed 1.57 percent.
HD Korea Shipbuilding & Offshore Engineering plunged 5.02 percent and Hanwha Ocean dropped 4.86 percent.
SK hynix was down 0.23 percent.
Among gainers, Samsung Electronics rose 0.17 percent and Korean Air climbed 1.25 percent.
LG Energy Solution advanced 1.64 percent and Amorepacific jumped 3.31 percent.
The local currency was trading at 1,441.15 won against the dollar at 9:15 a.m., up 2.65 won from the previous session.
with the Korea JoongAng Daily
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