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Kospi opens lower amid tariff negotiations

Published: 15 Jul. 2025, 10:07

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 15. [NEWS1]

Shares opened lower Tuesday, bucking overnight gains on Wall Street, as investors remained cautious over U.S. President Donald Trump's latest tariff threats.

The Kospi fell 12.34 points, or 0.39 percent, to 3,189.69 in the first 15 minutes of trading.

Trump has notified key U.S. trading partners of new tariff rates set to take effect Aug. 1 unless they offer improved terms in ongoing negotiations.

Overnight, the Dow Jones Industrial Average rose 0.2 percent to 44,459.65, while the tech-savvy Nasdaq composite climbed 0.27 percent to 20,640.33.

In Seoul, large-cap stocks were mixed.

Top carmaker Hyundai Motor fell 1.6 percent, leading shipbuilder HD Hyundai declined 0.43 percent, and leading steelmaker Posco Holdings shed 0.93 percent.

Chipmaker SK hynix dropped 3 percent, LG Chem lost 0.73 percent, and No. 2 battery maker Samsung SDI declined 0.77 percent.

Among gainers, market bellwether Samsung Electronics rose 0.64 percent, and leading battery maker LG Energy Solution climbed 0.6 percent.

State-run utility Korea Electric Power jumped 4.06 percent, and top wireless carrier SK Telecom edged up 0.09 percent.

The local currency was trading at 1,384.8 won against the U.S. dollar at 9:15 a.m., up 0.26 percent from the previous session's figure of 1,381.2 won.

Yonhap