South Korea's Kospi Falls 0.6%, Dragged by Defense, Shipbuilding Stocks -- Market Talk

Dow Jones

2024-11-26

0652 GMT - South Korea's benchmark Kospi fell 0.6% to close at 2520.36, dragged by defense, shipbuilding and shipping stocks. Foreign and institutional investors remained net sellers. Some trade-related shares were lower following President-elect Donald Trump's pledge to slap steep tariffs on Mexico, Canada and China soon after taking office. Shipping company HMM lost 2.0% and ship maker HD Hyundai Heavy fell 5.6%. Howitzer maker Hanwha Aerospace slumped 11% after Israel and Hezbollah edged closer to a cease-fire deal. USD/KRW settled 0.3% lower at 1,398.20 in Seoul onshore trading. The South Korean 10-year government bond yield was down 3.4 bps at 2.886%. (kwanwoo.jun@wsj.com)

(END) Dow Jones Newswires

November 26, 2024 01:52 ET (06:52 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Foreign and institutional investors remained net sellers. Some trade-related shares were lower following President-elect Donald Trump's pledge to slap steep tariffs on Mexico, Canada and China soon after taking office. Shipping company HMM lost 2.0% and ship maker HD Hyundai Heavy fell 5.6%. Howitzer maker Hanwha Aerospace slumped 11% after Israel and Hezbollah edged closer to a cease-fire deal. USD/KRW settled 0.3% lower at 1,398.20 in Seoul onshore trading. The South Korean 10-year government bond yield was down 3.4 bps at 2.886%. 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