It has also raised hopes that Lee will introduce fresh measures to boost the export-dependent economy, which faces a hefty hit from Trump’s tariffs, particularly the huge levies on steel and aluminium.

In his inauguration speech on Wednesday, the new president warned that protectionism posed a threat to the country’s “survival”.

On the campaign trail, Lee said Seoul needed to start tariff negotiations with Washington “immediately” but also stressed there was no need to “rush” a deal.

Tokyo – Nikkei 225: UP 1.0 per cent at 37,834.66 (break)

Hong Kong – Hang Seng Index: UP 0.5 per cent at 23,619.76

Shanghai – Composite: UP 0.3 per cent at 3,371.20

Euro/dollar: UP at $1.1377 from $1.1371 on Tuesday

Pound/dollar: UP at $1.3524 from $1.3518

Dollar/yen: DOWN at 143.91 yen from 144.03 yen

Euro/pound: UP at 84.13 pence from 84.11 pence

West Texas Intermediate: DOWN 0.3 per cent at $63.20 per barrel

Brent North Sea Crude: DOWN 0.3 per cent at $65.45 per barrel

New York – Dow: UP 0.5 per cent at 42,519.64 (close)

London – FTSE 100: UP 0.2 per cent at 8,787.02 (close)

AFP