0700 GMT - South Korea's benchmark Kospi fell 1.3% to close at 2537.60, dragged by shipbuilding, steel and battery stocks. Wall Street's falls overnight weighed on sentiment. Foreign and institutional investors were net sellers after President Trump unnerved traders by refusing to rule out a recession. With new U.S. tariffs on steel and aluminum due to start Wednesday, steelmaker Posco Holdings and ship maker HD Korea Shipbuilding & Offshore Engineering lost 4.5% and 6.9%, respectively. Electric-vehicle battery maker LG Energy Solution slid 2.4% after Tesla's overnight retreat. USD/KRW settled 0.4% higher at 1,458.20 in Seoul onshore trading. South Korea's 10-year government bond yield was down 5.4 bps at 2.747%. (kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
March 11, 2025 03:00 ET (07:00 GMT)
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