FX.co ★ South Korean Shares Extend Gains on Trade Optimism

The KOSPI Index advanced by 1.8% on Tuesday, surpassing the 3,880 mark and reaching record highs as optimism around US trade discussions bolstered the uptrend. South Korea's Industry Minister, Kim Jung-kwan, announced on Monday that the US appears to be easing its position on insisting that South Korea fulfill its entire $350 billion investment commitment in cash. This indicates progress in the ongoing trade negotiations. Kim, after returning from Washington, noted that the US has largely come to accept Seoul's stance following discussions with Commerce Secretary Howard Lutnick and other officials. These talks resulted in a broad agreement on critical issues such as foreign exchange stability, financing, and profit allocation. In the corporate arena, the uptrend gained additional momentum from strong performances in the tech and energy sectors, led by SK Hynix, which rose 2.99%, Samsung Electronics at 1.43%, Doosan Enerbility at 2.86%, and LG Energy Solution at 0.69%.