South Korean shares saw a decline in gains on Friday morning as major tech stocks dropped due to foreign sell-offs. The benchmark Korea Composite Stock Price Index (KOSPI) had initially risen by 0.46 percent to 5,789.65. However, the KOSPI later decreased as foreigners sold a net 1.26 trillion won, while local investors bought shares.
The Dow Jones Industrial Average closed 0.44 percent lower, with the Nasdaq composite and the S&P 500 also experiencing losses. Israeli Prime Minister Benjamin Netanyahu’s comments on the war against Iran and U.S. President Donald Trump’s stance on Iranian energy infrastructure helped stabilize the markets after initial declines.
In the South Korean market, Samsung Electronics and SK hynix, major chipmakers, saw declines, while LG Energy Solution and Doosan Enerbility experienced gains. Additionally, bio and financial shares showed positive movement, with companies like Samsung Biologics, Celltrion, Shinhan Financial, and Mirae Asset Securities recording increases.
However, some firms like SK Square, Hanwha Aerospace, Hyundai Heavy, and Samsung Electro-Mechanics faced declines. The Korean won was trading at 1,496.6 won against the U.S. dollar, showing a slight increase from the previous session’s low.
