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Kospi opens higher despite Trump's planned tariffs on Canada, Mexico

Published: 04 Mar. 2025, 10:05

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 4. [YONHAP]

Korean stocks opened slightly higher Tuesday, despite U.S. President Donald Trump's planned imposition of tariffs on Canadian and Mexican goods.

The Kopsi gained 8.14 points, or 0.32 percent, to 2,540.92 in the first 15 minutes of trading.

Overnight, major U.S. shares slid after Trump said 25 percent tariffs on goods from Mexico and Canada will take effect as planned on Tuesday, sparking fears of a global trade war.

The S&P 500 dropped 1.76 percent, and the tech-heavy Nasdaq tumbled 2.64 percent, while the Dow Jones Industrial Average declined 1.48 percent.

In Seoul, big-cap shares started mixed.

Samsung Electronics fell 0.18 percent, and SK hynix decreased 1.74 percent.

LG Energy Solution lost 1.28 percent, and Hyundai Motor edged down 0.16 percent.

Samsung Biologics and Celltrion jumped 2.06 percent and 4.18 percent, respectively.

Hanwha Aerospace soared 10.61 percent, and Hanwha Ocean surged 7.67 percent.

The local currency was trading at 1,460.8 won against the dollar at 9:15 a.m., down 2.6 won from the previous session.

Yonhap