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Kospi opens higher as Trump delays auto tariffs on Mexico, Canada

Published: 06 Mar. 2025, 10:50

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 3. [YONHAP]

Seoul shares opened higher Thursday after the U.S. administration agreed to delay auto tariffs on Mexico and Canada.

The Kospi gained 19 points, or 0.74 percent, to 2,577.13 in the first 15 minutes of trading.

Overnight, major U.S. shares rebounded as investor sentiment improved after the Trump administration suspended new auto duties on Mexico and Canada for a month and signaled it is open to more tariff negotiations.

The S&P 500 gained 1.12 percent, and the Dow Jones Industrial Average increased 1.14 percent, while the tech-heavy Nasdaq rose 1.46 percent.

In Seoul, Samsung Electronics added 0.37 percent, while SK hynix inched down 0.05 percent.

LG Energy Solution jumped 2.25 percent, and Posco Holdings soared 5.61 percent.

Automakers also kicked off strong, with Hyundai Motor up 2.26 percent and Kia surging 2.92 percent.

Financial shares were also bullish, with KB Financial up 2.35 percent and Shinhan Financial Group up 3.47 percent.

But Hanwha Aerospace shed 1.29 percent.

Hanwha Ocean and HD Hyundai Heavy also lost 0.75 percent and 0.79 percent, respectively.

The local currency was trading at 1,443.8 won against the dollar at 9:15 a.m., sharply down 10.7 won from the previous session.

Yonhap