SEOUL: und-up of South Korean financial markets:
South Korean shares hit over 1-month high on chip, battery boost
South Korean shares fell more than 1% on Friday and were set for their first weekly decline in a month as chip and auto makers dropped on US tariff worries.
The benchmark KOSPI was down 42.77 points, or 1.64%, at 2,564.38 as of 0111 GMT.
The KOSPI has fallen 2.9% this week after three weeks of gains.
South Korea’s exports likely rose for a second straight month in March on a growth in chip sales, a Reuters poll found, but economists warned of weakening momentum due to US tariffs.
The fresh US tariffs on automobiles will kick in next week, while President Donald Trump threatened duties on chip imports and reciprocal tariffs on major trading partners.
Chipmaker Samsung Electronics fell 1.94% and peer SK Hynix lost 3.72%.
Hyundai Motor shed 4% and sister automaker Kia slid 2.96%.
Steel manufacturers, e-commerce firms and biopharmaceutical manufacturers also fell.
Of the total 936 traded issues, 126 advanced and 773 declined.
Foreigners net sold South Korean shares worth 293.5 billion won ($200.4 million).
The won was quoted at 1,465.6 per US dollar on the onshore settlement platform, 0.06% lower than Thursday’s close at 1,464.7.
In money and debt markets, June futures on three-year treasury bonds fell 0.01 point to 106.74.
The most liquid three-year Korean treasury bond yield rose by 0.3 basis points to 2.628%, while the benchmark 10-year yield fell by 1.2 basis points to 2.839%.
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