On Tuesday, the benchmark KOSPI index increased by 1.26% to approximately 5,012, recovering from the losses experienced in the previous session. This rebound was primarily driven by strong performances in semiconductor stocks. Leading the gains were Samsung Electronics with a rise of 1.18%, SK Hynix soaring by 4.21%, Doosan Enerbility up by 2.18%, and SK Square with a significant increase of 6.12%. Meanwhile, automotive stocks faced setbacks, with Hyundai Motor declining by 2.03% and Kia Corp dropping by 3.29%.
Investor caution intensified after U.S. President Donald Trump announced plans to raise tariffs on imported automobiles from 15% to 25%, attributing the move to South Korea's legislature's delays in finalizing domestic procedures for a bilateral trade agreement. To address these concerns, South Korea's presidential office, Cheong Wa Dae, convened an emergency interagency meeting to coordinate countermeasures and evaluate potential economic impacts. They resolved to expedite Industry Minister Kim Jung-kwan’s departure from Canada to Washington for urgent discussions with U.S. Commerce Secretary Howard Lutnick.
