FX.co ★ KOSPI Falls on Profit-Taking and Weak Trade Price Data

On Thursday, the benchmark KOSPI experienced a slight decline of 0.06%, settling near 3,222. This decrease followed a 1% rise in the previous trading session, as investors began to take profits and the market mood was dampened by the latest trade statistics. Data from July indicated a 5.9% year-on-year drop in import prices, marking a continuous decline over four months, while export prices decreased by 4.3%. These figures highlight the ongoing pressure from weak manufacturing prices and the impact of newly introduced US tariffs. The technology and transportation sectors were the hardest hit, with significant losses from LG Display (-9.10%), Doosan (-2.13%), Hyundai Merchant Marine (-4.43%), and Panocean (-2.31%). Meanwhile, HD Hyundai revealed that senior officials from South Korea and the US visited its Ulsan shipyard on Wednesday, with the aim of discussing enhanced bilateral cooperation in shipbuilding prior to a forthcoming leaders’ summit. Industry Minister Kim Jung-kwan announced the formation of a governmental consultative body to support this initiative, which is designed to create new opportunities for Korean shipbuilders.