FX.co ★ South Korean Shares Remain at Over 1-Month High

The KOSPI benchmark index saw a modest increase of 0.1%, reaching 2,610 points on Tuesday, continuing a two-day upward trend and maintaining its position at a peak not seen in over a month. This rise is fueled by ongoing optimism regarding the US-China trade agreement. According to the terms of this deal, the United States will cut its tariffs on Chinese goods from 145% to 30%, while China will decrease its tariffs on US imports from 125% to 10%. In South Korea, Acting President Lee Ju-ho underscored the importance of staying vigilant on trade developments, such as the US-UK accord, and called on ministries to focus on national interests and reciprocal benefits in forthcoming negotiations, particularly with the US. Investors are now closely following upcoming talks between US and South Korean representatives, anticipated to occur alongside this week's APEC Trade Ministers' meeting. Notably, SK Hynix experienced a 1.9% rise, while Samsung Biologics and Celltrion each saw increases of 1.6% and 1.9%, respectively.