Seoul: South Korean stocks closed at their highest level in nearly four years Wednesday, as investors digested U.S. President Donald Trump's renewed tariff threats targeting copper, semiconductors, and pharmaceuticals. The Korean won fell against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) added 18.79 points, or 0.60 percent, to close at 3,133.74, marking the highest closing level since September 17, 2021, when the index finished at 3,140.51. The trade volume was substantial, with 637.3 million shares worth 12.5 trillion won (US$9.09 billion) being exchanged, and gainers outnumbering decliners 698 to 199.
Individual investors were at the forefront of the rally, acquiring a net 430.8 billion won worth of stocks. In contrast, foreign and institutional investors offloaded a net 425.2 billion won and 57.9 billion won, respectively.
On Tuesday (U.S. time), Trump revealed plans to impose a 50 percent tariff on copper, while also hinting at additional duties on semiconductors and pharmaceuticals. Just a day prior, he announced that he had sent formal letters to South Korea, Japan, and other trade partners, notifying them of a new deadline of August 1 to finalize trade agreements or face elevated tariffs.