Seoul: South Korean stocks concluded a two-session losing streak on Thursday, closing slightly higher as investors navigate the implications of President-elect Donald Trump's upcoming administration policies on sectors such as semiconductors, EV batteries, and shipbuilding. The Korean won experienced a slight depreciation against the U.S. dollar.According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) increased by 1.12 points, or 0.04 percent, to close at 2,564.63 after an initial dip. Trading volume was moderate, with 447 million shares exchanged, valued at 10.6 trillion won (US$7.6 billion). The session saw more losers than winners, with 352 stocks declining against 512 gaining.Foreign and institutional investors drove the day's gains, purchasing a net 97.6 billion won and 113.4 billion won, respectively, while individual investors offloaded a net 235.9 billion won. The U.S. stock market had soared to record highs after Trump's victory in the 2024 presidential election, d riven by investor expectations of reduced taxes and deregulation. The Dow Jones Industrial Average rose by 3.5 percent, with the Nasdaq Composite ascending by 2.95 percent. Notably, electric vehicle manufacturer Tesla surged by 14.8 percent, buoyed by CEO Elon Musk's support for Trump's reelection.In Seoul, performance varied among large-cap stocks across different sectors. Shipbuilders emerged as the biggest beneficiaries following Trump's remarks on South Korea's role in the U.S. shipbuilding industry, including naval shipbuilding, exports, repairs, and maintenance, during a phone call with South Korean President Yoon Suk Yeol. Hanwha Ocean's shares soared by 21.76 percent to 33,850 won, while HD Korea Shipbuilding and Offshore Engineering climbed by 6.03 percent to 197,000 won.Defense companies also performed well, with Hanwha Aerospace rising by 4.52 percent to 405,000 won, and LIG Nex1 increasing by 3.66 percent to 197,000 won. Meanwhile, chip giant Samsung Electronics saw a modest rise of 0.35 perce nt to 57,500 won, and its competitor SK hynix advanced by 0.82 percent to 197,400 won.Conversely, EV battery manufacturers faced declines as LG Energy Solution fell by 1.15 percent to 386,000 won, and Samsung SDI dropped by 3.52 percent to 288,000 won. In the biotech sector, Samsung Biologics decreased by 3.02 percent to 995,000 won, and SK bioscience fell by 3.79 percent to 50,800 won.The local currency traded at 1,396.6 won against the U.S. dollar by 3:30 p.m., marking a 0.4 won decrease from the previous session. The won-dollar rate exceeded 1,400 won during intra-day trading due to increasing demand for the U.S. dollar following Trump's election victory. Bond prices, which move inversely to yields, closed higher, with the yield on three-year Treasurys falling by 3.8 basis points to 2.922 percent and the yield on benchmark five-year government bonds decreasing by 4.5 basis points to 2.978 percent.
- October 12, 2026
