Seoul shares ended flat on Friday as investors bought defense and shipbuilding stocks to offset declines in major tech shares amid Middle East tensions. The benchmark KOSPI edged down 0.18 point to close at 6,475.63. The South Korean won fell against the U.S. dollar.
Seoul shares ended flat on April 24 after choppy trading, with the benchmark Korea Composite Stock Price Index (KOSPI) down 0.18 point at 6,475.63 from a record high of 6,475.81 the previous session. The KOSPI rose 4.58 percent over the week. Trade volume was moderate at 871 million shares worth 29.82 trillion won ($20.08 billion), with gainers outnumbering decliners 619 to 236.
Tech and auto stocks led losses. Market bellwether Samsung Electronics fell 2.23 percent to 219,500 won, while SK hynix declined 0.24 percent to 1,222,000 won. Top automaker Hyundai Motor dropped 3.57 percent to 513,400 won, and Kia Corp. shed 3.16 percent to 153,400 won. Defense giant Hanwha Aerospace Industries rose 2.67 percent to 1,463,000 won, and LIG Defense and Aerospace jumped 2.38 percent to 989,000 won.
Foreigners sold a net 1.95 trillion won of local stocks, while institutions bought 807.74 billion won and individuals 1.18 trillion won. The won was quoted at 1,484.50 against the dollar at 3:30 p.m., down 3.5 won. Bond yields rose, with the three-year Treasury up 3.8 basis points to 3.496 percent and the five-year benchmark up 3.1 basis points to 3.683 percent.
Investor sentiment stayed subdued amid stalled U.S.-Iran talks, but Daishin Securities analyst Cho Seung-bin said, "Sentiment was not fully dampened by Middle East uncertainties as investors eye solid corporate earnings." U.S. President Donald Trump ordered the Navy to target vessels laying mines in the Strait of Hormuz and noted Iran seeks a deal with talks underway. Iran reactivated air defense systems. Trump said Israel and Lebanon would extend their ceasefire by three weeks.
Overnight, the Dow Jones Industrial Average fell 0.36 percent, and the Nasdaq Composite declined 0.89 percent.
