Seoul shares end higher amid caution over tariff talks
The benchmark Korea Composite Stock Price Index added 13.83 points, or 0.44 percent, to close at 3,183.77, rebounding from a marked loss in the previous session.
Trade volume was moderate at 655.24 million shares worth 11.89 trillion won ($8.62 billion), with losers beating winners 497 to 390.
Retail investors offloaded a net 682.82 billion won worth of stocks, while institutions and foreigners bought a net 292.31 billion won and 316.15 billion won worth of shares, respectively.
The index opened slightly higher and fluctuated within a narrow range throughout the session before ending with a modest gain.
Investors are closely watching the developments of negotiations on the United States' tariff scheme as just 10 days remain until the Aug. 1 deadline set by US President Donald Trump. Earlier in the day, Washington announced deals with Japan and the Philippines.
South Korea is set for last-minute talks with the US The trade talks involving Finance Minister Koo Yun-cheol, Trade Minister Yeo Han-koo and their US counterparts -- Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer -- are scheduled to take place in Washington on Friday (local time).
Industry Minister Kim Jung-kwan left for Washington earlier in the day for separate talks with his US counterpart.
"The Kospi has touched the 3,200 level but has struggled to settle above that," analyst Han Ji-yong from Kiwoom Securities said. "Upward momentum is limited due to lingering effects from the recent sharp rally, along with growing caution ahead of the second-quarter earnings season and tariff talks."
Tech shares led the upturn of the index.
Market bellwether Samsung Electronics rose 0.61 percent to 66,400 won, and chip giant SK hynix edged up 0.19 percent to 269,000 won.
Major battery maker LG Energy Solution advanced 0.9 percent to 336,500 won, and leading biotech firm Samsung Biologics surged 2.11 percent to 1,064,000 won.
Carmakers rallied on news that the US cut tariffs on imports of automobiles from Japan. Top carmaker Hyundai Motor spiked 7.51 percent to 222,000 won, and its sister Kia Motors soared 8.49 percent to 106,100 won.
Top financial firm KB Financial went up 0.61 percent to 115,300 won, and nuclear power plant manufacturer Doosan Enerbility climbed 1.28 percent to 63,400 won.
No. 1 steelmaker Posco Holdings moved up 3.72 percent to 335,000 won.
But leading online portal operator Naver decreased 1.49 percent to 231,500 won, and Kakao, the operator of the country's dominant mobile messenger, tumbled 2.65 percent to 55,000 won.
Defense powerhouse Hanwha Aerospace dipped 1.3 percent to 910,000 won.
The local currency was quoted at 1,379.8 won against the greenback at 3:30 p.m., up 8 won from the previous session. (Yonhap)
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