FX.co ★ South Korean Shares Rally Over 1%

On Wednesday, the benchmark KOSPI index rose by 1.1%, reaching approximately 2,630 points. This increase countered the declines experienced in the previous session, significantly driven by gains in the health and shipbuilding sectors. Investor sentiment improved following the government's commitment to provide additional support to vital export industries, with a focus on biopharmaceuticals and automotive sectors. This includes policy financing amounting to 28.6 trillion won to mitigate the effects of the comprehensive tariffs introduced during Trump’s administration. Meanwhile, attention was directed towards the renewed Korea-US trade discussions in Washington, where officials engaged in technical talks about mutual tariffs and pivotal economic matters, with an emphasis on strategic partnerships in shipbuilding. Leading the gains in the health sector were Samsung Biologics with an increase of 3.1%, Celltrion at 1%, and Alteogen at 3.5%. In the shipbuilding sector, significant advancements were seen from Hyundai Heavy Industries and Hanwha Ocean, each climbing 1.6%, and Korea Shipbuilding and Offshore Engineering, which rose by 3.1%. Additional notable performance was observed in the sectors of semiconductors, financial services, and automobile manufacturing.