South Korean shares rise for third day as financials jump
South Korean shares rose for a third straight session on Wednesday, as financial stocks rallied on policy hopes, while the broader market's focus was on US tariffs and domestic monetary policy.
The benchmark KOSPI was up 15.53 points, or 0.50%, at 3,130.48, as of 0204 GMT.
Securities firms rallied 5.91% and major financial groups rose 1.91%, extending a rally on optimism around President Lee Jae Myung's push to revitalise capital markets.
US President Donald Trump said on Tuesday South Korea should be paying for its own military protection, suggesting the US ally needed to pay more for the US troop presence there, a day after saying he planned to impose a 25% tariff on its imports.
The Bank of Korea will pause its easing cycle on Thursday but is expected to resume interest rate cuts next month to support economic growth in a country burdened by high household debt, according to a Reuters poll.
Among other index heavyweights, chipmaker Samsung Electronics fell 1.38%, while peer SK Hynix lost 0.35%. Battery maker LG Energy Solution climbed 0.16%.
Hyundai Motor and sister automaker Kia Corp were down 2.13% and down 0.20%, respectively. Steelmaker POSCO Holdings added 0.32%, while drugmaker Samsung BioLogics rose 0.25%.
Of the total 934 traded issues, 683 shares advanced, while 208 declined.
Foreigners were net sellers of shares worth 354.0 billion won ($258.11 million).
The won was quoted 0.01% lower at 1,373.4 per dollar on the onshore settlement platform.
In money and debt markets, September futures on three-year treasury bonds gained 0.02 point to 107.16.
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