South Korean stocks started a tad higher Monday as US President Donald Trump has announced his plans on auto tariffs and value-added tax systems.
The benchmark Korea Composite Stock Price Index added 3.3 points, or 0.13 percent, to 2,594.35 in the first 15 minutes of trading.
Trump said Friday (local time) that he could impose tariffs on auto imports beginning April 2 in an apparent move to affect the South Korean car industry.
He also said he would treat VAT systems the same as tariffs in a way to calculate the reciprocal levies on other countries.
US stocks ended mixed Friday last week. The Dow Jones Industrial Average dropped 0.37 percent, while the tech-heavy Nasdaq composite gained 0.41 percent.
In Seoul, market heavyweights opened in positive territory.
Chip giant SK hynix added 1.43 percent, and leading battery maker LG Energy Solution increased 0.42 percent.
No. 1 online portal operator Naver climbed 0.23 percent and top oil refinery SK Innovation rose 0.16 percent.
However, carmakers were weak, with industry leader Hyundai Motor losing 2.18 percent and its sister Kia dropping 0.42 percent.
The local currency was trading at 1,442.85 won against the greenback at 9:15 a.m., up 0.85 won from the previous session. (Yonhap)
