SEOUL– South Korean stocks traded slightly higher late Friday morning despite North Korea’s ICBM launch and the Ukraine-Russia war.
After choppy trading, the benchmark Korea Composite Stock Price Index had inched up 4.85 points, or 0.18 percent, to trade at 2,734.51 points as of 11:20 a.m.
Earlier in the morning, North Korea announced that the communist nation successfully test-fired a new ICBM the previous day.
Large caps traded mixed in Seoul.
Market bellwether Samsung Electronics traded flat, and No. 2 chipmaker SK hynix declined 1.66 percent. Battery heavyweight LG Energy Solution soared 7.6 percent.
Internet portal operator Naver shed 1.47 percent, while its rival Kakao added 0.95 percent. Bio heavyweight Samsung Biologics shed 0.73 percent.
The local currency was trading at 1,217.55 won against the U.S. dollar, up 1.25 won from the previous session’s close.
Source: Yonhap News Agency