Seoul: Seoul shares turned higher late Tuesday morning, helped by gains in tech and auto stocks though investors remain cautious over U.S. President Donald Trump's shifting tariff policies. The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.97 points, or 0.74 percent, to 2,567.83 as of 11:20 a.m.
According to Yonhap News Agency, the main index had opened lower after a mixed close on Wall Street amid lingering tariff concerns. Overnight, the Dow Jones Industrial Average rose 0.28 percent, while the tech-heavy Nasdaq composite slipped 0.1 percent. Institutions bought a net 212.79 billion won (US$148 million) worth of stocks, offsetting foreigners and individuals' stock selling valued at 211.8 billion won and 9.25 billion won, respectively.
In Seoul, tech and auto stocks led the gains. Market bellwether Samsung Electronics rose 0.9 percent, while chip giant SK hynix added 0.22 percent. Top automaker Hyundai Motor climbed 1.53 percent, and its sister affiliate Kia gained 1.92 percent. Auto shares advanced following news that Trump may reduce the impact of automotive tariffs by easing duties on foreign parts used in vehicles assembled domestically.
Leading battery maker LG Energy Solution rose 0.72 percent, while LG Chem jumped 2.26 percent. Among decliners, leading shipbuilder HD Hyundai Heavy fell 0.25 percent and its smaller rival Hanwha Ocean plunged 12.21 percent. The local currency was trading at 1,435.85 won against the U.S. dollar at 11:20 a.m., up 6.75 won from the previous session.