South Korea's Kospi Edges Up 0.1%; Shipbuilding, Steel Stocks Advance -- Market Talk

Dow Jones

2025/01/07

0726 GMT - South Korea's benchmark Kospi gained 0.1% to close at 2492.10, rising for a third consecutive session. Shipbuilding and steel stocks advanced. Foreign investors were net buyers. Hanwha Ocean climbed 13%, leading a rally in local shipmakers after President-elect Donald Trump said he would turn to allies for support in building a U.S. Navy fleet against China. South Korea, a close U.S. military ally, is home to the world's leading shipyards. Steelmaker Hyundai Steel rose 5.4%. USD/KRW settled 1.1% lower at 1,453.50 in Seoul onshore trading. South Korea's 10-year government bond yield was down 1.2 bps at 2.805%. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

January 07, 2025 02:26 ET (07:26 GMT)

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