On Friday, the KOSPI index dipped by 0.2%, landing at approximately 2,574 points. However, it still appeared poised for a fourth straight week of gains as investors evaluated the progress of U.S. trade negotiations with major global economies. President Trump disclosed a preliminary trade agreement with the UK, with comprehensive details anticipated shortly. He also suggested the possibility of reduced tariffs on China, although some uncertainty surrounding the upcoming trade discussions in Switzerland this weekend dampened enthusiasm.
Domestically, market participants reacted favorably to data revealing a 23rd successive month of current account surplus in March, driven by robust export performance. Key losers among prominent index constituents included SK Hynix (-1.2%), LG Energy Solutions (-2.6%), and KB Financial (-2.8%). Conversely, the automotive sector saw gains, led by Hyundai Motor (2.2%) and Kia Corp (2.7%). On the corporate front, Korea Zinc, a leading steelmaker, experienced an 8.4% surge in its stock price following its announcement of plans to repurchase and cancel over 2 million shares, valued at 1.82 trillion won, to enhance shareholder value.
