Seoul: South Korean shares turned higher late Friday morning, led by battery and chemicals shares amid hopes for a possible trade deal with the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.06 points, or 0.54 percent, to 3,768.43, as of 11:20 a.m.
According to Yonhap News Agency, the KOSPI opened lower, tracking overnight losses on Wall Street, after jumping 2.49 percent to a record close of 3,748.37 points on Thursday. However, the market shifted direction as investors began to invest in battery and chemicals stocks.
Market heavyweight Samsung Electronics saw a modest rise of 0.05 percent, while No. 2 chipmaker SK hynix climbed 1.99 percent. Top carmaker Hyundai Motor gained 0.1 percent, and its smaller affiliate Kia climbed 0.9 percent. Shipbuilder Hanwha Ocean, a unit of Hanwha Group, advanced 2.38 percent, and leading steelmaker POSCO Holdings increased by 3.23 percent.
Among decliners, national flag carrier Korean Air lost 0.45 percent, and shipping firm HMM shed 0.24 percent. The local currency was trading at 1,420.05 won against the greenback as of 11:20 a.m., down 2.15 won from the previous session's close.