A screen at the dealing room of Hana Bank’s headquarters in Seoul, Friday, shows the KOSPI and KOSDAQ indices. Yonhap
Seoul shares ended flat Friday, as investors scooped up defense and shipbuilding stocks, offsetting a decline in major tech shares despite Middle East tensions. The Korean won fell against the U.S. dollar.
After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.18 point to close at 6,475.63. The index closed at a record high of 6,475.81 a session earlier.
Overnight, the Dow Jones Industrial Average fell 0.36 percent and the Nasdaq Composite declined 0.89 percent.
Investor sentiment remained subdued amid little progress in U.S.-Iran talks.
U.S. President Donald Trump said on Thursday (U.S. time) he had ordered the Navy to target vessels laying mines in the Strait of Hormuz, while adding that Iran is seeking a deal and negotiations are under way. Iran has also reportedly reactivated its air defense systems.
Still, expectations for a second round of talks underpinned hopes of easing tensions and stabilizing the strait, a key global oil shipping route.
Separately, Trump said Israel and Lebanon would extend their ceasefire by three weeks, helping to temper concerns about a broader regional conflict.
Source: Korea Times News
