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Kospi extends winning streak to 6th day amid looming U.S. tariff deadline

Published: 30 Jul. 2025, 17:29

Korean Industry Minister Kim Jung-kwan, left, greets U.S. Commerce Secretary Howard Lutnick for a tariff meeting in Washington, on July 25. [NEWS1]

Korean stocks rose for a sixth consecutive session to the highest level in about four years on Wednesday, led by tech gains, as investors await a deal between Seoul and Washington over the Donald Trump administration's aggressive tariff scheme. The local currency rose against the U.S. dollar.

The Kospi added 23.9 points, or 0.74 percent, to close at 3,252.47, extending its winning streak to a sixth session.

The reading marked the highest level since Aug. 9, 2021, when the index closed at 3,260.42.

Trade volume was moderate at 335.65 million shares worth 12.88 trillion won ($9.31 billion), with winners beating losers 474 to 406.

The index opened slightly higher, despite overnight losses on Wall Street, and extended gains further.

Foreign and institutional investors bought a net 580.58 billion won and 330.81 billion won worth of shares, respectively, while retail investors sold a net 984.91 billion won.

"As investors assess corporate earnings reports, differentiated stock movements within sectors are expected, depending on individual company performance," said Han Ji-young, a researcher at Kiwoom Securities.

Eyes are also on ongoing tariff talks between Korea and the United States, with just two days remaining until the Aug. 1 deadline for a deal before the U.S. starts imposing reciprocal tariffs, including a 25 percent duty on Korean imports.

In the latest round of meetings, Finance Minister Koo Yun-cheol, Industry Minister Kim Jung-kwan and Trade Minister Yeo Han-koo held two-hour talks with U.S. Commerce Secretary Howard Lutnick in Washington on Tuesday.

A large crane stands at Hanwha Ocean’s headquarters in Geoje, South Gyeongsang, on July 28, four days ahead of the deadline for Korea-U.S. tariff negotiations. [YONHAP]

Koo is scheduled to meet with U.S. Treasury Secretary Scott Bessent in Washington on Thursday for a potential showdown, while Foreign Minister Cho Hyun also plans to meet with Secretary of State Marco Rubio.

Tech and auto shares led the overall market advance.

Market bellwether Samsung Electronics rose 2.83 percent to 72,500 won, and chip giant SK hynix added 0.38 percent to 263,500 won.

Major battery maker LG Energy Solution added 0.26 percent to 393,000 won on news that it signed a $4.3 billion contract to supply Tesla with lithium iron phosphate batteries for energy storage systems.

Leading pharmaceutical firm Samsung Biologics advanced 0.92 percent to 1.1 million won.

Top automaker Hyundai Motor surged 2.29 percent to 223,000 won, while its sister Kia spiked 4.45 percent to 110,400 won. Top financial firm KB Financial went up 1.35 percent to 112,800 won.

But defense giant Hanwha Aerospace sank 2.1 percent to 977,000 won on profit taking, and nuclear power plant manufacturer Doosan Enerbility skidded 2.15 percent to 63,700 won.

Leading shipbuilder HD Hyundai Heavy decreased 0.53 percent to 471,000 won, while No. 1 steelmaker Posco sank 1.11 percent to 313,000 won.

The local currency was quoted at 1,383.1 won against the dollar at 3:30 p.m., down 0.57 percent from the previous session's quote of 1,391.0 won.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 0.6 basis point to 2.44 percent and the return on the benchmark five-year government bonds shed 1.5 basis points to 2.598 percent.

Yonhap