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Kospi ends week down 0.28% on U.S. volatility

Published: 14 Mar. 2025, 16:34

KIM JU-YEON
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,566.36 points on March 14, down 7.28 points, or 0.28 percent, from the previous trading session. [NEWS1]

Shares ended lower for the second consecutive session on Friday amid U.S. President Donald Trump's determination to push forward with his controversial tariff policies. The local currency stayed unchanged against the greenback from the previous session.

The Kospi fell 7.28 points, or 0.28 percent, to close at 2,566.36.

Trade volume was moderate at 357.3 million shares worth 9.8 trillion won ($6.74 billion). Winners, however, outpaced losers 508 to 356.

Foreign investors and institutions together sold a net 310.7 billion won, while retail investors bought a net 209.4 billion won.

Overnight, Wall Street lost ground after Trump stressed his commitment to tariffs on steel, aluminum and cars, as claims of policy inconsistency lingered due to his administration's recent adjustments to the imposition of levies on Canadian and Mexican goods.

The S&P 500 shed 1.39 percent, and the tech-heavy Nasdaq plummeted 1.96 percent. The Dow Jones Industrial Average slipped 1.3 percent.

Market watchers predict that as the Constitutional Court's ruling on President Yoon Suk Yeol's impeachment approaches, the domestic stock market could experience choppy trading near the 2,600 level next week.

"The local stock market has remained relatively strong compared to volatility in the United States, but investors should be cautious about the potential escalation of political risks," Kim Ji-won, an analyst at KB Securities, said.

In Seoul, battery manufacturers and bio shares lost ground. LG Energy Solution slid 4.11 percent to 326,500 won, and Samsung Biologics shed 0.19 percent to 1,051,000 won.

Energy-related shares also retreated, with refiner SK Innovation plunging 5.17 percent to 132,000 won and LG Chem down 4.74 percent 231,000 won.

Steel and automotive shares, sectors exposed to U.S. tariff risks, lost ground as well. Steelmaker Posco Holdings fell 2.56 percent to 304,500 won and automaker Hyundai Motor slipped 1.24 percent to 198,500 won.

Chipmakers, however, prevented the market from incurring further losses. SK hynix gained 2.4 percent to 204,500 won, while Samsung Electronics remained unchanged at 54,700 won.

The local currency was trading at 1,453.8 won against the dollar at 3:30 p.m., unchanged from the previous session.

Bond prices, which move inversely to yields, ended mixed. Three-year government bonds yield rose 2.7 basis points to 2.597 percent, while the return on the benchmark 10-year U.S. government bonds fell 4.2 basis points to 4.27 percent.

BY KIM JU-YEON, YONHAP [[email protected]]