South Korean shares at record high after tax hike plan scrapped

Published on 09/11/2025 at 03:09 am EDT

• KOSPI rises, foreigners net buyers
• Korean won weakens against dollar
• South Korea benchmark bond yield rises

(Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose to a record high on Thursday, as President Lee Jae Myung reaffirmed his pledge to boost the domestic market by scrapping a tax hike plan.
** The benchmark KOSPI closed up 29.67 points, or 0.90%, at 3,344.20. It extended a rally to an eighth consecutive session.
** Lee said he did not see a need to follow through on a plan to revise the country's capital gains taxes intended to boost tax revenue from stock investors and that he would leave it up to parliament to decide.
** Hyundai Motor rose 1.13% and battery maker LG Energy Solution climbed 2.79%, as hundreds of South Korean workers at their joint plant construction site who had been detained in a U.S. immigration raid last week were released.
** Among other index heavyweights, chipmaker Samsung Electronics rose 1.10%, while peer SK Hynix gained 0.99%.
** Of the total 929 traded issues, 463 shares advanced, while 406 declined.
** Foreigners were net buyers of shares worth 300 billion won ($215.52 million).
** The won was quoted at 1,391.8 per dollar on the onshore settlement platform, 0.24% lower than its previous close at 1,388.5.
** The most-liquid three-year Korean treasury bond yield fell by 1.1 basis points to 2.420%, while the benchmark 10-year yield rose by 0.2 basis points to 2.817%. ($1 = 1,391.9500 won)
( Reporting by Jihoon Lee; Editing by Harikrishnan Nair )

Sumber : Reuters