Synopsis
South Korean stocks ended lower on April 11 due to escalating US-China trade tensions. The KOSPI index dropped 0.5%, while the won strengthened against the dollar. Analysts suggest monitoring developments in the tariff conflict closely.Key Takeaways
- South Korean stocks fell amid US-China trade tensions.
- **KOSPI** declined by **0.5 percent** on Friday.
- Moderate trading volume of **361 million shares**.
- Foreign investors sold a significant amount of stocks.
- **Samsung Electronics** and other major firms saw declines.
Seoul, April 11 (NationPress) - South Korean equities closed lower on Friday due to a heightened trade dispute between the United States and China, stemming from Washington's reciprocal tariff strategy. The Korean won appreciated against the US dollar.
The Korea Composite Stock Price Index (KOSPI) decreased by 12.34 points, equivalent to 0.5 percent, finishing at 2,432.72.
Trading activity was moderate, with 361 million shares traded, amounting to 7.61 trillion won (approximately $5.25 billion). Notably, winners outnumbered losers with a count of 536 to 340, as reported by Yonhap news agency.
Foreign investors offloaded 688.5 billion won worth of equities, while domestic investors and institutions collectively acquired a net of 571.5 billion won.
In the previous session, Wall Street, which experienced a rally following U.S. President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs, faced a downturn amid escalating retaliatory tariff measures between Washington and Beijing.
The S&P 500 fell by 3.46 percent, the Dow Jones Industrial Average decreased by 2.5 percent, and the tech-heavy Nasdaq composite plunged by 4.31 percent.
“The tariff conflict has evolved into a direct standoff between the U.S. and China,” remarked Han Ji-young, an analyst at Kiwoom Securities, advising investors to remain vigilant about developments instead of hastily selling.
Market leader Samsung Electronics saw a decline of 2.13 percent, closing at 55,200 won, while its competitor in chipmaking, SK Hynix, dropped 1.31 percent to 180,800 won.
LG Energy Solution, a top battery manufacturer, plummeted by 4.01 percent to 335,000 won, and leading automaker Hyundai Motor fell 5.08 percent to finish at 177,500 won.
POSCO Holdings, a giant in steel production, decreased by 2.3 percent, closing at 255,000 won, and SK Innovation retreated by 4.79 percent to 97,300 won.
At 3:30 p.m., the local currency was trading at 1,449.9 won against the U.S. dollar, reflecting an increase of 6.5 won from the previous day.
In a separate development, Dai Bing, the Chinese Ambassador to South Korea, shared a video on social media depicting two sheep colliding head-on, attributing China's robust countermeasures as a reason for the U.S. decision to suspend tariffs for 90 days.
The 30-second clip, posted on his X account, shows two sheep charging at each other. One, labeled “the United States” in Chinese, is knocked backward and collapses, while the other, labeled “China”, stands firm as its opponent retreats in defeat.
