Seoul shares start slightly higher despite tariff woes

Officials work at a Hana bank dealing room in Seoul, Monday. Yonhap

Korean stocks opened a tad higher Monday despite renewed tariff threats by U.S. President Donald Trump over the weekend.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 7.15 points, or 0.23 percent, to 3,182.92 as of 11:20 a.m.

On Saturday (U.S. time), Trump said he has sent letters to key trade partners, including the European Union and Mexico, threatening duties of 30 percent on imports and setting the negotiations deadline on Aug. 1.

In Seoul, major shares started in mixed territory.

Market bellwether Samsung Electronics fell 0.8 percent, and its chipmaking rival SK hynix rose 2.21 percent.

Top carmaker Hyundai Motor added 0.72 percent, but its sister Kia retreated 0.6 percent.

K-pop powerhouse Hybe declined 0.18 percent, and entertainment giant CJ ENM increased 0.58 percent.

The local currency was trading at 1,376.55 won against the U.S. dollar at 11:20 a.m., down 1.15 won from the previous session.