South Korean markets gain after new Donald Trump’s tariff deadline; Kospi, Kosdaq rise

South Korean stock market rose on Tuesday, in line with other Asian markets, as investors assessed US President Donald Trump’s tariffs on 14 trading partners, including Japan and South Korea.

South Korea’s Kospi index rallied 0.44% and the Kosdaq was up 0.19% after Trump wrote letters to his counterparts in Tokyo and Seoul threatening levies of 25% beginning August 1.

Trump said on Monday he would impose tariffs on goods from South Korea starting on August 1.

South Korea’s finance ministry said the government would closely monitor the impact of US tariffs on the economy and financial markets. The ministry said it would respond immediately and boldly to excessive market volatility, after a meeting to review implications of a US decision to impose 25% tariffs on South Korea from August 1, Reuters reported.

Meanwhile, South Korea's won rose 0.4% to 1,370.20 per dollar.

(To be updated)

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

Download the Mint app and read premium stories