Seoul: Seoul shares closed higher Monday as investors awaited progress on trade deals with the United States ahead of the July 9 deadline set by President Donald Trump. The Korean won fell against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) rose 5.19 points, or 0.17 percent, to close at 3,059.47. Trade volume was moderate at 349.78 million shares worth 10.11 trillion won (US$7.4 billion), with losers beating winners 459 to 427.
Individuals bought a net 152.66 billion won worth of stocks, offsetting institutions and foreigners' stock selling of 83.52 billion won and 91.49 billion won, respectively. The Trump administration has set August 1 as the date for higher tariffs to take effect, while indicating that some countries may be granted more time to negotiate deals on tariff rates.
All eyes are now on the outcome of the negotiations for clues on the market's next move, analysts said.