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South Korea Ignore Threat Trump, Kospi Survive Positively

JAKARTA – Kospi index managed to maintain its positive movement until the end of trading the second day in a row on Friday (16/3/2018), although the performance of the won currency further weakened.

South Korea’s benchmark stock index ended up 0.06% or 1.59 points at 2,493.97, after opening with a 0.11% gain or 2.73 points at 2,495.11.

As for Thursday’s trading (15/3), Kospi posted a rebound with 0.25% or 6.30 points higher at 2,492.38.

A total of 382 stocks rose, 334 stocks fell, and 54 shares stagnated from 770 shares traded on the Kospi index in late trading today.

A number of stocks monitored the movement of Kospi in the green zone today, including Hitejinro Holdings Co. Ltd. (+ 0.62%) and Doosan Corp. (+ 1.47%).

On the other hand, shares of Dongwha Pharm Co. Ltd. and Woori Bank, which weakened 2.34% and 0.32%, respectively, were among the ranks of negative moving stocks and limited the strengthening of Kospi.

Meanwhile, Samsung Electronics Co. down 0.78% or 20,000 points at 2,557,000 won at the end of trading today.

Contrary to the Kospi, the won ended down 0.06% or 0.65 points at 1,066.15, after ending depreciating 0.08% at 1,065.50 per dollar on Thursday.

The South Korean government did not show much reaction after US President Donald Trump signaled that his administration might reduce military support for its ally.

The statement comes as both sides seek to overhaul their trade deal while disarming the nuclear weapons of Kim Jong Un regime.

Trump’s statement on South Korea is part of his speech in which he criticized several major US trading partners, including US allies such as Canada and Japan, who are considered unfair in trade practices.

“Our allies are only thinking about themselves. They do not care about us, “Trump said.

In a statement released today, President Moon’s office president Moon Jae In said there was no need to comment on the words of a state leader at any time.

“We have nothing to say about this,” he said, as quoted by Bloomberg.

KOSPI Index Movement

Date Level Change
16/3/2018 2.493,97 +0,06%
15/3/2018 2.492,38 +0,25%
14/3/2018 2.486,08 -0,34%
13/3/2018 2.494,49 +0,42%

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Written by DI

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