Home > Business > Finance

Kospi opens slightly lower due to Trump not relenting on tariffs

Published: 14 Mar. 2025, 10:31

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 14. [YONHAP]

Seoul shares opened slightly lower Friday after U.S. President Donald Trump reaffirmed his determination to push forward with his controversial tariff policies.

The Kospi fell 0.19 point, or 0.01 percent, to 2,573.45 in the first 15 minutes of trading.

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.

In Seoul, battery manufacturers and bio shares lost ground. LG Energy Solution slid 0.73 percent, and Samsung Biologics fell 1.42 percent.

Financials and energy shares also retreated, with KB Financial down 1.15 percent and SK Innovation shedding 1.94 percent.

Chipmakers, however, prevented the market from incurring further losses. Samsung Electronics edged up 0.18 percent and SK hynix gained 0.4 percent.

The local currency was trading at 1,454.90 won against the U.S. dollar at 9:15 a.m., up 1.10 won from the previous session.

Yonhap