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Kospi opens slightly lower as Trump uncertainty continues

Published: 22 Apr. 2025, 12:11

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,488.42 points on April 21, up 5 points, or 0.20 percent, from the previous trading session. [YONHAP]

Korean stocks opened slightly lower Tuesday, tracking overnight losses on Wall Street sparked by uncertainty deriving from U.S. President Donald Trump's tariff policies and attack on the Federal Reserve.

The benchmark Kospi lost 3.72 points, or 0.15 percent, to 2,484.7 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average dropped 2.48 percent, the S&P 500 went down 2.36 percent and the tech-heavy Nasdaq composite declined 2.55 percent as Trump ramped up criticism of Powell, saying the U.S. economy could slow down unless the Fed immediately lowers its interest rate.

Seoul investors' eyes are now on Korea's tariff negotiations with the United States, slated for later this week in Washington.

Korea was slapped with 25 percent reciprocal tariffs, though the United States paused their implementation for 90 days.

In Seoul, big-cap shares began mixed.

Market bellwether Samsung Electronics shed 0.63 percent, and chip giant SK hynix pulled back 0.91 percent.

Top automaker Hyundai Motor gained 0.16 percent, while its sister Kia dropped 0.57 percent.

Major defense firm Hanwha Aerospace rose 0.24 percent and leading shipbuilder HD Hyundai Heavy climbed 1.7 percent.

The local currency was trading at 1,422.2 won against the U.S. dollar at 9:15 a.m., down 3.1 won from the previous session.

Yonhap