South Korean shares hit fresh record as tax hike plan officially scrapped

Published on 09/15/2025 at 04:11 am EDT

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

(Reuters) - Round-up of South Korean financial markets:
** South Korean shares rose on Monday to hit a fresh record high, as the government scrapped a plan to raise taxes on stock investment following President Lee Jae Myung's comments last week.
** The benchmark KOSPI ended the session up 11.77 points, or 0.35%, at 3,407.31, the highest closing level on record. The index extended its rally into a 10th straight session.
** The finance ministry decided not to change a capital gains tax rule on stock investments, after President Lee Jae Myung said last week his administration would not pursue an earlier plan to tighten it, conceding that the move risked undermining the market and reaffirming a promise of reform to revitalise the stock market.
** "It puts a full-stop to doubts over the government's will to boost the market," said Lee Kyoung-min, an analyst at Daishin securities.
** Among sub-indexes, securities firms and financial groups were the biggest gainers, rising 3.91% and 1.78%, respectively.
** Chipmaker Samsung Electronics rose 1.46%, while peer SK Hynix gained 0.76%. Battery maker LG Energy Solution ended unchanged.
** Hyundai Motor and sister automaker Kia Corp were down 3.80% and 3.97%, respectively. Steelmaker POSCO Holdings was flat, while drugmaker Samsung BioLogics rose 0.19%.
** K-pop agency HYBE fell 1.88%, as Chairman Bang Si-hyuk said he would cooperate with a police investigation into allegations he conducted illicit stock transactions. Bang has previously denied any wrongdoing.
** Foreigners were net buyers of shares worth 266.7 billion won ($192.26 million).
** The won was quoted at 1,387.4 per dollar on the onshore settlement platform, 0.58% higher than its previous close at 1,395.4.
** The most liquid three-year Korean treasury bond yield rose by 1.6 basis points to 2.443%, while the benchmark 10-year yield rose by 0.9 basis point to 2.821%. ($1 = 1,387.1500 won)
 (Reporting by Jihoon Lee) 

Sumber : Reuters