Seoul shares end tad higher on strong food, defense shares; won at 6-month high
South Korean stocks finished a tad higher Friday as investors scooped up food and defense shares amid eased tariff woes. The local currency rose to its highest level in six months against the US dollar.
The benchmark Korea Composite Stock Price Index gained 5.51 points, or 0.21 percent, to close at 2,626.87, rebounding from a 0.73 drop on the previous day.
Trade volume was moderate at 354.4 million shares worth 7.93 trillion won ($5.7 billion), with losers beating winners 578 to 315.
Foreign and institutional investors purchased a net 169.7 billion won and 134.1 billion won, respectively. Individuals dumped a net 303.3 billion won.
Food and defense shares led the turnaround.
Samyang Food, known for the global hit Buldak Ramen, surged 19.07 percent to an all-time high of 1.18 million won on its record-breaking first-quarter earnings.
Its ramen rival Nongshim also soared 9.4 percent to 454,000 won.
Defense giant Hanwha Aerospace rose 2.31 percent to 841,000 won, and LIG Nex1 advanced 4.38 percent to 405,000 won.
Leading gamemaker NCSOFT jumped 3.99 percent to 161,700 won, and Netmarble vaulted 5.58 percent to 53,000 won.
Chipmaker SK hynix increased 2 percent to 204,500 won, and Hanmi Semiconductor, a leading chipmaking equipment provider, jumped 11.72 percent to 91,500 won.
However, leading battery maker LG Energy Solution sank 5.37 percent to 290,500 won, and major chemicals firm LG Chem lost 4.4 percent to 193,600 won.
Top-cap Samsung Electronics declined 0.87 percent to 56,800 won.
The local currency was quoted at 1,389.6 won against the greenback at 3:30 p.m., up 4.9 won from the previous session, the highest since Nov. 5, when the reading was 1,378.6. (Yonhap)
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