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Kospi opens slightly lower on Trump's tariff announcement on copper, medicine

Published: 09 Jul. 2025, 10:03

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on July 9. [YONHAP]

Shares started a tad lower Wednesday on U.S. President Donald Trump's renewed tariff threats on copper and pharmaceuticals.

The Kospi shed 0.19 point, or 0.01 percent, to 3,114.76 in the first 15 minutes of trading.

Trump announced plans to impose a 50 percent duty on copper imports and up to 200 percent tariffs on pharmaceuticals on Tuesday, a day after he released letters sent to Korea, Japan and other countries, detailing plans to impose reciprocal tariffs starting on Aug. 1.

U.S. stocks finished mixed. The Dow Jones Industrial Average fell 0.37 percent and the S&P 500 lost 0.07 percent, while the Nasdaq composite gained 0.03 percent.

In Seoul, large caps opened in negative territory.

Market bellwether Samsung Electronics dropped 1.3 percent, and chip giant SK hynix declined 1.42 percent.

Drugmakers went south as Celltrion retreated 0.57 percent, and Samsung Biologics fell 0.39 percent.

Top carmaker Hyundai Motor decreased 1.9 percent, and leading internet firm Naver lost 1.94 percent.

However, leading retailer Lotte Shopping rose 2.89 percent, and instant noodle maker Samyang Food added 0.84 percent.

The local currency was trading at 1,373.95 won against the dollar at 9:15 a.m., up 0.4 percent from the previous session's quote of 1,367.9 won.

Yonhap