FX.co ★ South Korean Shares Snap 3-Day Winning Streak

The KOSPI index experienced a slight decline of 0.2% on Wednesday, settling around the 2,560 mark and halting its three-day upward trajectory. Nonetheless, it remains on track for a 3.2% increase for the month. This movement occurred as investors processed new economic data and corporate earnings reports amid ongoing trade discussions. The South Korean Finance Ministry announced that it will not rush into a trade agreement with the United States prior to the June 3 election, emphasizing the importance of following due process and aligning with domestic political schedules. Meanwhile, March saw a boost in industrial production, marking a second consecutive month of growth, largely due to robust semiconductor output. Conversely, retail sales experienced a downturn, indicating softer consumer spending. Among major market players, Samsung Electronics' shares remained unchanged despite reporting a 21.7% increase in first-quarter net profit, surpassing forecasts. In contrast, SK Hynix saw a slight decline of 0.7%. LG Energy Solution, a leading battery manufacturer, fell by 2.4% despite a 6.8% increase in net profit. Market participants now look forward to additional crucial data releases later this week, including trade balance, Purchasing Managers' Index (PMI), and inflation figures.