Seoul shares end higher on hopes for smooth US tariff negotiations
South Korean stocks finished higher Friday as investors bet on smooth tariff negotiations between the United States and its trading partners. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 13.01 points, or 0.53 percent, to close at 2,483.42.
Trade volume was light at 444 million shares worth 5.5 trillion won ($3.87 billion), with winners beating losers 619 to 247.
Institutions purchased a net 81.4 billion won worth of stocks, while foreign and retail investors together sold a net 136.2 billion won.
Investors are focusing on developments in Washington's country-specific trade negotiations, starting with Japan earlier this week.
"The fact that negotiations with Japan and European Union countries are proceeding without major friction increases the likelihood that tariff-driven downside risks to the economy may be eased," said Han Ji-young, an analyst at Kiwoom Securities.
Automotive and defense equipment shares led the overall gains, with Hyundai Motor jumping 3.03 percent to 187,200 won and Hanwha Aerospace rising 1.47 percent to 828,000 won.
Financial shares and internet portal shares also advanced. Kookmin Financial climbed 2.62 percent to 82,400 won, and top portal operator Naver added 2.12 percent to end at 187,500 won.
Market cap Samsung Electronics rose 0.36 percent to 55,300 won, while chip rival SK hynix remained unchanged at 175,000 won.
In contrast, battery and bio shares declined. Top battery manufacturer LG Energy Solution slid 1.31 percent to 338,000 won, and Samsung Biologics dropped 0.94 percent to 1,049,000 won.
The local currency was trading at 1,423.3 won against the US dollar at 3:30 p.m., down 4.4 won from the previous session. (Yonhap)
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