Seoul:<Text>
Seoul shares concluded the trading session on a flat note Friday, as investor interest in defense and shipbuilding stocks counterbalanced a decline in major technology shares, amidst ongoing tensions in the Middle East. The South Korean won experienced a drop against the U.S. dollar.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) slightly decreased by 0.18 points, closing at 6,475.63, following its record high close of 6,475.81 in the previous session. The market observed moderate trading volume with 871 million shares exchanged, valued at 29.82 trillion won (US$20.08 billion). Advancing stocks outnumbered decliners 619 to 236.
On the international front, the Dow Jones Industrial Average and Nasdaq Composite experienced declines of 0.36 percent and 0.89 percent, respectively. In Seoul, foreign investors sold a net 1.95 trillion won worth of local shares, while institutional investors and individuals purchased 807.7 4 billion won and 1.18 trillion won, respectively, reflecting a cautious investor sentiment due to stagnant U.S.-Iran negotiations.
Market analyst Cho Seung-bin from Daishin Securities Co. noted that while uncertainties from the Middle East persisted, investor sentiment was somewhat buoyed by the anticipation of strong corporate earnings reports. U.S. President Donald Trump's directive to the Navy to target vessels laying mines in the Strait of Hormuz, alongside reports of Iran reactivating its air defense systems, added to geopolitical tensions. However, hopes for a second round of talks provided some optimism for easing tensions and stabilizing the crucial oil shipping route.
Additionally, President Trump announced an extension of the ceasefire between Israel and Lebanon by three weeks, alleviating some concerns about a potential broader regional conflict.
In terms of sector performance, technology and automotive stocks were among the biggest losers. Sam sung Electronics saw a decline of 2.23 percent to 219,500 won, while SK hynix fell 0.24 percent to 1,222,000 won. Hyundai Motor and its affiliate Kia Corp. experienced declines of 3.57 percent and 3.16 percent, respectively.
Conversely, defense sector stocks saw gains, with Hanwha Aerospace Industries rising 2.67 percent to 1,463,000 won, and LIG Defense and Aerospace increasing by 2.38 percent to 989,000 won.
The South Korean won was valued at 1,484.50 against the U.S. dollar at 3:30 p.m., marking a decrease of 3.5 won from the previous session.
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