South Korea auto stocks recover from early slump after Trump tariff comments

SEOUL, Jan 27 (Reuters) - Shares of South Korea’s automakers clawed back early losses after U.S. President Donald ​Trump said in a social media post he ‌would raise tariffs on South Korean goods, including autos, to 25% from ‌15%.

Shares of Hyundai Motor reversed course to gain 1.1% after falling as much as 4.8% earlier, while sister company Kia Corp was down 1% after dropping as much as ⁠6%. Hyundai Mobis was ‌trading down 0.1% after earlier losses of up to 5.7%.

The benchmark KOSPI was trading up ‍1.2% as of 0150 GMT.

The won weakened by 0.52% to 1,451.1 per dollar as soon as dollar-won onshore markets opened in ​Seoul at 0000 GMT, taking a hit after strengthening ‌as much as 2% a day earlier.

Trump said on Monday he was increasing tariffs on South Korean imports into the United States related to autos, lumber and pharmaceuticals to 25%, accusing the country's legislature of "not living up" to ⁠its trade deal with Washington.

It was ​not immediately clear when the ​tariff hike would take effect, or what specifically triggered Trump's directive.

Some analysts said, however, that South ‍Korea-U.S. trade negotiations ⁠had already been agreed at the presidential level.

Kim Joon-sung, senior analyst at Meritz Securities, said auto export tariffs ⁠to the United States were expected to be reconfirmed at 15%.

(Reporting ‌by Joyce Lee and Heekyong Yang; Editing by ‌Ed Davies and Kate Mayberry)

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