South Korean shares flat ahead of US tariff talks

SEOUL: Round-up of South Korean financial markets:

South Korean shares little changed with focus on tariff talks

• South Korean shares were little changed on Tuesday, with investors on the fence ahead of negotiations with the US over trade barriers.

• The benchmark KOSPI fell 1.19 points, or 0.05%, to 2,487.23 as of 0118 GMT.

• Finance Minister Choi Sang-mok has left for Washington, while Industry Minister Ahn Duk-geun will depart on Wednesday for trade consultations on April 24. The meeting was scheduled on the US’s request.

• South Korea’s economy barely grew in the last quarter as persistent global trade risks and weak domestic demand continued to sap momentum, a Reuters poll found. The gross domestic product print is due on Thursday.

• Among index heavyweights, chip and battery makers fell, tracking overnight losses in Nvidia and Tesla.

• Countering their losses, e-commerce firms, drugmakers and steel manufacturers rose, while automakers traded flat.

• Of the total 928 traded issues, 404 advanced and 450 declined.

• Foreigners were net sellers of shares worth 18.4 billion won ($12.9 million).

• The won was quoted at 1,425.6 per US dollar on the onshore settlement platform, 0.29% lower than Monday’s close at 1,421.5.

• In the money and debt markets, June futures on three-year treasury bonds rose 0.01 point to 107.73.

• The most liquid three-year Korean treasury bond yield fell 0.9 basis points to 2.321%, while the benchmark 10-year yield rose 0.8 basis points to 2.609%.