Seoul: South Korean stocks traded higher late Friday morning, led by gains of major tech firms and shipbuilders, as investors assessed the outcome of the first round of tariff talks between Seoul and Washington. The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.46 points, or 0.57 percent, to 2,536.79 as of 11:20 a.m.
According to Yonhap News Agency, the index opened markedly higher, tracking Wall Street gains, but some of the earlier gains were erased on selling by retail investors. During the first round of tariff talks held in Washington on Thursday, South Korea and the U.S. agreed to pursue a tariff deal before the pause on the implementation of reciprocal tariffs is lifted in early July.