Korean won gains more than 1% against US dollar
Currency rebounds after decline amid political uncertainty
Signs of talks between Korea’s main trading partners boost sentiment
For the midday report, please click
SEOUL, – Round-up of South Korean financial markets:
** The South Korean won jumped on Friday to its highest in five months as signs of trade talks between China and the United States raised hopes that a trade war between the world’s two biggest economies might ease.
** The won strengthened as much as 1.63% to 1,404.0 per dollar on the onshore settlement platform. It closed at 1,426.9 on Thursday.
** The won hit the strongest level since December 3, 2024, when the currency weakened past the psychological threshold of 1,400 per dollar on former President Yoon Suk Yeol’s sudden but failed attempt to impose martial law.
** The won started the session lower and weakened as much as 0.9% to 1,440.0 in early trade, before rebounding, as domestic political uncertainty intensified following the resignations of the country’s prime minister and finance minister.
** Beijing said it is “evaluating” an offer from Washington to hold talks over U.S. President Donald Trump’s crippling tariffs.
** China and the U.S. are South Korea’s two largest export markets, with autos and chips comprising the bulk of shipments.
** Stock and bond markets were little changed ahead of the four-day holiday through Tuesday.
** The benchmark KOSPI closed up 3.18 points, or 0.12%, at 2,559.79.
** Chipmaker SK Hynix jumped 4.79% to its highest since April 10, as semiconductors, especially high-end products for artificial intelligence, led an unexpected rise in the country’s exports last month.
** Automakers fell as car exports fell in April on U.S. tariffs. Battery makers also declined. However, drugmakers rose.
** The most liquid three-year Korean treasury bond yield rose 1.1 basis points to 2.285%, while the benchmark 10-year yield added 0.6 basis point to 2.598%.
This article was generated from an automated news agency feed without modifications to text.
