Seoul: South Korean stocks finished slightly higher Friday as investors turned their attention to food and defense shares amid alleviated tariff concerns. The local currency appreciated to its strongest level in six months against the U.S. dollar.
According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) rose by 5.51 points, or 0.21 percent, to settle at 2,626.87, recovering from a 0.73 decline the previous day. Trading volume was moderate, with 354.4 million shares valued at 7.93 trillion won (US$5.7 billion) changing hands. Despite the gains, losers outpaced winners by 578 to 315.
Foreign and institutional investors were net buyers, purchasing 169.7 billion won and 134.1 billion won, respectively, while individual investors sold a net 303.3 billion won. The turnaround was led by food and defense stocks.
Samyang Food, famous for its popular Buldak Ramen, climbed 19.07 percent to a record 1.18 million won following its best-ever first-quarter earnings. Competitor Nongshim also saw a significant increase, rising 9.4 percent to 454,000 won. In the defense sector, Hanwha Aerospace gained 2.31 percent to 841,000 won, and LIG Nex1 advanced 4.38 percent to 405,000 won.
Meanwhile, leading gamemaker NCSOFT surged 3.99 percent to 161,700 won, and Netmarble jumped 5.58 percent to 53,000 won. Chipmaker SK hynix saw a 2 percent increase to 204,500 won, while Hanmi Semiconductor, a key player in chipmaking equipment, soared 11.72 percent to 91,500 won.
However, not all companies experienced gains. Major battery manufacturer LG Energy Solution fell 5.37 percent to 290,500 won, and LG Chem, a significant chemicals firm, dropped 4.4 percent to 193,600 won. Samsung Electronics, the top-cap company, decreased 0.87 percent to 56,800 won.
The local currency was quoted at 1,389.6 won per U.S. dollar at 3:30 p.m., a 4.9 won increase from the previous session, marking the highest value since November 5, when it stood at 1,378.6.
Bond prices, which have an inverse relationship with yields, also rose. The yield on three-year Treasurys decreased by 4.3 basis points to 2.319 percent, while the yield on the benchmark five-year government bonds fell by 5.1 basis points to 2.445 percent.