Korean stocks hit record high on US-China summit optimism
South Korean shares reached a new peak on Friday, driven by technology companies, after confirmation that American and Chinese leaders will hold talks next week. The main index added 96.03 points to finish at 3,941.59.
Samsung Electronics rose 2.38 percent while SK hynix jumped 6.58 percent after the White House announced President Donald Trump and President Xi Jinping plan to meet at the Asia-Pacific Economic Cooperation gathering. LG Energy Solution climbed 9.94 percent as investors anticipated progress on trade disputes and investment matters.
Foreign buyers purchased 581.5 billion won in shares, and local institutions added 1.4 trillion won. Individual traders sold a net 2 trillion won as 474 stocks advanced and 407 declined across 419 million shares traded.
The won gained 2.75 won to close at 1,436.85 against the dollar. Hanwha Aerospace fell 3.43 percent while Hyundai Motor edged up 0.2 percent and Kia slipped 0.09 percent.
