South Korean Auto Stocks Surge on US Tariff Cut

South Korean auto companies, including Hyundai and Kia, saw their stocks surge by nearly five and three percent respectively following U.S. Secretary of Commerces announcement of lower auto tariffs and removal of airplane parts tariffs. This positive trade news, along with consistent inflation rates, paints an optimistic picture for the South Korean economy, despite a slight uptick in headline inflation. The broader Asia-Pacific markets also responded positively, while Wall Street faced a downturn due to a cryptocurrency sell-off.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.