FX.co ★ South Korean Shares Rise Amid Renewed US-Korea Trade Deal Hopes

On Wednesday, the benchmark KOSPI index increased by 0.7%, reaching approximately 2,970, marking its third straight session of gains. This positive trend was primarily bolstered by heightened investor optimism following President Lee Jae-myung's administration's renewed efforts to advance trade talks with the United States. These negotiations come ahead of the impending expiration of the 90-day pause on additional US tariffs, slated for July 9. The government's active approach, highlighted by the formation of a special task force led by Trade Minister Yeo Han-koo, has positively influenced market sentiment. Investors are hopeful for advantageous results that could alleviate the impact of US tariffs on South Korean exports. Among the leaders in stock gains were chipmakers and financial sectors, with Samsung Electronics rising by 1.6% and KB Financial Group inching up by 0.1%. Meanwhile, SK Hynix and Hyundai Motor reported losses of 0.4% and 0.2%, respectively.