(9 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Seoul, South Korea – 9 April 2025
1. Various of KOSPI (Korean Composite Stock Price Indexes) displayed on screens inside the Hana Bank dealing room
STORYLINE:
The South Korean market opened lower on Wednesday morning as the latest set of U.S. tariffs, including a massive 104% levy on Chinese imports, was due to take effect.
At 9:30 am on Wednesday morning, South Korea’s benchmark Korea Composite Stock Price Index was at 2313.17, which was 0.90 percent lower than Tuesday’s closing point.
Elsewhere in the region, Japan’s Nikkei 225 index initially lost nearly 4% and markets in New Zealand and Australia also declined.
On Tuesday, the S&P 500 dropped 1.6% after wiping out an early gain of 4.1%. That took it nearly 19% below its record set in February. The Dow Jones Industrial Average dropped 0.8%, while the Nasdaq composite lost 2.1%. Uncertainty is still high about what President Donald Trump will do with his trade war.
The sharply higher tariffs were scheduled to kick in after midnight Eastern time in the U.S., and investors have no idea what to make of President Donald Trump’s trade war.
The retreat overnight and into early Wednesday in Asia followed rallies for stocks globally earlier in the day, with indexes up 6% in Tokyo, 2.5% in Paris and 1.6% in Shanghai.
AP Video by Yong Jun Chang
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