Seoul: Seoul shares traded slightly higher late Friday morning amid persisting uncertainties over tariff negotiations between South Korea and the United States. The benchmark Korea Composite Stock Price Index (KOSPI) had added 7.86 points, or 0.25 percent, to 3,198.31 as of 11:20 a.m.
According to Yonhap News Agency, Wall Street closed mixed overnight, with the Nasdaq composite and S and P 500 recording gains of 0.18 percent and 0.07 percent, respectively, while the Dow Jones Industrial Average fell 0.7 percent. Investor attention remained focused on the ongoing tariff negotiations between Seoul and Washington, as top trade officials from South Korea met with U.S. Commerce Secretary Howard Lutnick in Washington, D.C., on Thursday.
During the meeting, both parties reaffirmed their commitment to reaching a trade agreement before the August 1 deadline, agreeing to hold another round of negotiations soon, as reported by the Seoul government. In the local market, large-cap shares showed mixed performance.
Samsung Electronics remained flat, whereas SK hynix saw a slight decline of 0.09 percent. LG Energy Solution experienced a drop of 2.17 percent, reflecting Tesla's 8.2 percent decline overnight. Bio shares also weakened, with Samsung Biologics down 0.83 percent and Celltrion losing 1.61 percent.
Conversely, financial shares showed a positive trend. KB Financial climbed 1.54 percent, and Shinhan Financial rose 1.15 percent. HD Hyundai, a major shipbuilder, surged by 5.6 percent, while rival Hanwha Ocean gained 0.23 percent. Car manufacturer Kia also saw an increase of 0.76 percent.
The local currency stood at 1,376.3 won against the U.S. dollar at 11:20 a.m., marking a decrease of 9.1 won from the previous session.