
South Korean stocks finished higher Wednesday, led by gains of tech shares and shipbuilders, as investors digested US President Donald Trump's new tariff scheme. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 9.34 points, or 0.37 percent, to close at 2,548.39, extending a winning streak to a second session.
Trade volume was moderate at 453.32 million shares worth 13.19 trillion won ($9.08 billion), with losers outnumbering winners 551 to 332.
Foreigners and institutions bought a net 96.84 billion won and 51.88 billion won worth of local shares, respectively, while retail investors sold a net 197.32 billion won worth of shares.
The index opened lower amid concerns about Trump's sweeping tariffs but gathered ground to end with modest gains.
"Investors took a cautious stance ahead of the release of US inflation data and continued noises regarding tariff issues. Market volatility is expected to continue for the time being," Han Ji-young, an expert from Kiwoom Securities, said.
The Trump government decided to impose 25 percent tariffs on all steel and aluminum imports into the United States. Trump is also reviewing tariffs on cars and semiconductors, which are major export items for South Korea.
Eyes are also on US inflation data for January, which was to be released on Wednesday, as Federal Reserve Chair Jerome Powell told a Senate committee Tuesday that the central bank can take its time deciding when and whether to adjust interest rates, citing the resilient US economy.
Large-cap shares traded mixed.
Market bellwether Samsung Electronics added 0.18 percent to 55,800 won, while chip giant SK hynix fell 0.4 percent to 198,900 won.
Leading bio firm Samsung Biologics sank 1.45 percent to 1,157,000 won, and Celltrion lost 0.56 percent to 178,700 won.
Leading electric vehicle battery maker LG Energy Solution skidded 1.31 percent to 338,500 won.
No. 1 carmaker Hyundai Motor fell 0.65 percent to 198,100 won, and its sister affiliate Kia dropped 2.24 percent to 91,700 won.
Leading portal operator Naver lost 1.53 percent to 225,000 won, and Kakao, the operator of the country's top mobile messenger, tumbled 1.98 percent to 42,000 won.
Top steelmaker POSCO Holdings decreased 1.91 percent to 230,500 won.
Shipbuilders rose markedly on news that US senators introduced a bill to allow the US Navy to build naval vessels in a trusted ally's shipyard in order to modernize and expedite construction and procurement processes for US maritime forces.
Hyundai Heavy Industries spiked 15.36 percent to 353,000 won, and Hanwha Ocean surged 15.17 percent to 72,900 won.
The local currency was quoted at 1,453.4 won against the greenback at 3:30 p.m., down 0.8 won from the previous session. (Yonhap)