South Korean stocks rose 2.9% on a weekly basis as concerns over U.S. tariffs eased.

The South Korean stock market fell on Friday as profit-taking by investors was triggered by overnight declines on Wall Street, but was boosted by a decrease in uncertainty over US tariffs, achieving the largest weekly gain in a month. The benchmark KOSPI index closed down 17.67 points, or 0.55%, at 3,210.01 points. Daishin Securities analyst Lee Kyoung-min stated, "The decline in KOSPI was mainly due to profit-taking in sectors that have seen significant recent gains." The KOSPI rose 2.9% this week, reversing last week's 2.4% decline and marking the largest weekly gain since early July. The Governor of the Bank of Korea said on Thursday that the trade agreement reached with the US will significantly ease pressure at the central bank's policy meeting later this month. The US has reduced tariffs on imports from South Korea from the originally threatened 25% to 15%. In terms of weighted stocks, chip giant Samsung Electronics rose 1.84%, while competitor SK Hynix fell 2.10% and battery manufacturer LG Chem declined 2.07%. Shares of Hyundai and Kia remained relatively stable, steel giant POSCO fell 0.67%, and biopharmaceutical company Samsung Biologics fell 0.68%. Among the 935 stocks traded that day, 386 rose and 488 fell. Foreign investors sold a net of 157.2 billion Korean won in stocks.