Seoul shares open slightly higher amid Trump tariff woes
A electric board in Hana Bank's dealing room in Seoul shows the Korea Composite Stock Price Index, Feb. 14. Yonhap
Korean stocks opened slightly higher Friday, tracking Wall Street gains, as U.S. President Donald Trump rolled out detailed plans regarding new tariffs on U.S. imports.
The benchmark Korea Composite Stock Price Index (KOSPI) added 4.11 points, or 0.16 percent, to 2,587.28 in the first 15 minutes of trading.
Trump signed a presidential memorandum on Thursday (U.S. time) to devise a comprehensive plan to customize "reciprocal" tariffs, while dismissing any tariff exemptions or waivers.
The Korean government and companies are bracing for the impact of the potential sweeping tariffs on industries and the country's export-driven economy.
U.S. shares ended higher as investors shrugged off uncertainties regarding the tariff plan and welcomed peace talks between Trump and Russian President Vladimir Putin to end the Russia-Ukraine war.
The Dow Jones Industrial Average rose 0.77 percent, while the tech-heavy Nasdaq composite surged 1.5 percent.
In Seoul, large-cap shares opened mixed.
Market bellwether Samsung Electronics rose 0.9 percent, while chip giant SK hynix fell 0.24 percent.
Leading battery maker LG Energy Solution lost 0.42 percent.
Bio shares opened higher. Major bio firm Samsung Biologics increased 1.61 percent, and Celltrion added 0.22 percent.
Top automaker Hyundai Motor opened unchanged, while its sister affiliate Kia went up 0.32 percent.
Top portal operator Naver climbed 0.91 percent, and No. 1 steelmaker POSCO Holdings went up 0.41 percent.
The local currency was trading at 1,442.85 won against the greenback at 9:15 a.m., up 4.65 won from the previous session. (Yonhap)