March 26, 2018 / 12:27 AM / 7 months ago

S.Korea's steel shares jump ahead of possible US trade deal

SEOUL, March 26 (Reuters) - South Korea’s steelmakers rose sharply on Monday, with Dongbu Steel leading gains, ahead of a possible trade deal between Seoul and Washington.

Washington has said that the United States and South Korea could announce a trade deal this week that would cover an exemption from U.S. steel and aluminum tariffs and other trade issues.

Dongbu Steel shares surged 21.8 percent and Husteel shares jumped 7.3 percent, while Seah Steel rose 5.5 percent.

Auto shares, which are also expected to be affected by the trade deal, moved tentatively with Hyundai Motor easing 0.3 percent and Kia Motors slipping 0.8 percent in a nearly flat broader market. (Reporting by Dahee Kim and Hyunjoo Jin)

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