South Korean stocks began trading higher on Friday, rebounding from overnight losses on Wall Street driven by heightened geopolitical tensions and market uncertainties.
The Korea Composite Stock Price Index (KOSPI), the country’s benchmark index, climbed 45.86 points, a 0.81 percent increase, to reach 5,723.11 within the first 15 minutes of trading.
The KOSPI has experienced a strong upward trend recently, achieving a new closing record of 5,677.25 on Thursday, fueled by optimism surrounding advancements in artificial intelligence (AI) and subsequent gains in major chip manufacturers and other large-cap technology companies.
US stocks declined on Thursday due to concerns over a potential escalation in the standoff between the United States and Iran regarding Tehran’s nuclear ambitions. The Dow Jones Industrial Average decreased by 0.54 percent, while the tech-focused Nasdaq Composite fell by 0.32 percent. The S&P 500 also saw a decline of 0.28 percent.
In Seoul, large-cap shares showed mixed performance at the opening.
Market leader Samsung Electronics experienced a slight decrease of 0.16 percent, while chip giant SK hynix declined by 0.56 percent due to profit-taking activities.
Leading automaker Hyundai Motor fell by 0.19 percent, and its affiliate Kia experienced a decrease of 0.35 percent.
Major battery manufacturer LG Energy Solution edged down by 0.12 percent, and AI investment firm SK Square saw a decline of 1.77 percent.
Biopharmaceutical stocks displayed mixed trading patterns. Pharmaceutical company Samsung Biologics increased by 0.87 percent, while Celltrion decreased by 0.41 percent.
Nuclear power plant construction company Doosan Enerbility surged by 6.81 percent, and defense company Hanwha Aerospace jumped by 5.48 percent.
Leading shipbuilder HD Hyundai Heavy Industries and its competitor Hanwha Ocean rose by 3.14 percent and 2.06 percent, respectively.
Financial stocks showed positive momentum. KB Financial Group increased by 1.86 percent, and Shinhan Financial Group grew by 1.88 percent.
