FX.co ★ South Korean Equities Log Modest Weekly Gains

The KOSPI Index experienced a modest increase of 6 points, or 0.2%, closing at 3,196 on Friday, effectively reversing early market losses and marking the third consecutive session of gains. Investor sentiment saw an upswing, fueled by a slight rise in U.S. futures following record highs in the S&P 500 and Nasdaq indices, alongside growing optimism for a prospective trade deal between the U.S. and the EU. Concurrently, South Korea's Industry Minister, Kim Jung-kwan, engaged in discussions with U.S. Commerce Secretary Lutnick on Thursday, reaffirming commitments to solidify a tariff agreement by the August 1 deadline. Foreign investors were active, net purchasing shares valued at KRW 141.6 billion. Over the week, the KOSPI Index gained 0.3%, extending its positive performance streak to three weeks. Leading the gains were sectors such as commercial services, technology, and utilities, with significant increases observed in Hyundai Heavy Industries (up 5.8%), HD Korea Shipbuilding (up 4.9%), Naver (up 3.3%), and Shinhan Financial (up 2.7%). In contrast, LG Energy Solution saw a decline of 1.2%, issuing a caution regarding potential demand slowdowns attributable to U.S. tariffs and policy uncertainties, despite reporting a substantial rise in quarterly profits.