South Korean stocks finished higher Monday, led by strong gains by tech giant Samsung Electronics amid caution over last-minute negotiations with the United States on its aggressive tariff scheme. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 13.47 points, or 0.42 percent, to close at 3,209.52, extending its winning streak to a fourth day.
Trade volume was heavy at 500.22 million shares worth 13.83 trillion won ($10.01 billion), with losers beating winners 722 to 179.
Institutional and foreign investors bought a net 452.01 billion won and 480.78 billion won worth of stocks, respectively, while individuals net sold 998 billion won worth of shares.
The index opened higher but moved within a narrow range throughout the session before ending with modest gains, as investors remained cautious ahead of key developments in negotiations between Seoul and Washington over the Donald Trump administration's tariff measures, with just four days remaining until the Aug. 1 deadline.
Industry Minister Kim Jung-kwan has departed for Europe to continue trade negotiations with the U.S., while Finance Minister Koo Yun-cheol is scheduled to meet with Treasury Secretary Scott Bessent on Thursday.
"With corporate second-quarter earnings being released, now is the time to heighten caution over increased short-term volatility," said Lee Kyung-min, a researcher at Daishin Securities.
Market bellwether Samsung Electronics spiked 6.83 percent to 70,400 won on news that it has signed a contract worth over US$16.5 billion won to supply semiconductors to U.S. tech giant Tesla.
But chip giant SK hynix lost 1.5 percent to 262,000 won.
Major battery maker LG Energy Solution surged 4.68 percent to 380,500 won, and top chemical firm LG Chemical advanced 1.95 percent to 313,000 won. Defense giant Hanwha Aerospace climbed 0.85 percent to 953,000 won.
Carmakers gathered ground. Top carmaker Hyundai Motor increased 0.92 percent to 218,500 won, and its sister Kia Motors gained 1.34 percent to 105,500 won.
But top financial firm KB Financial dipped 6.99 percent to 110,500 won, and nuclear power plant manufacturer Doosan Enerbility shed 3.64 percent to 63,500 won.
Shipbuilders gathered ground on hopes for stronger cooperation with the U.S. Leading shipbuilder HD Hyundai Heavy soared 4.5 percent to 464,500 won, and its rival Hanwha Ocean jumped 8.44 percent to 97,600 won.
The local currency was quoted at 1,382 won against the greenback at 3:30 p.m., down 4.1 won from the previous session. (Yonhap)
