Kospi closes up 0.23% on chip sector expectations

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A screen in Hana Bank's trading room in central Seoul shows the Kospi closing on March 20. [YONHAP]
A screen in Hana Bank's trading room in central Seoul shows the Kospi closing on March 20.

Shares rose for the fifth consecutive session Friday, led by chip stocks, despite lingering concerns about U.S. President Donald Trump's sweeping tariff scheme.

The benchmark Kospi rose 6.03 points, or 0.23 percent, to close at 2,643.13.

Trade volume was moderate at 482.32 million shares worth 13.73 trillion won ($9.37 billion), with decliners outpacing gainers 562 to 316.

Foreigners bought a net 846.9 billion won worth of stocks, while individuals and institutions sold a net 540.32 billion won and 395.44 billion won of stocks, respectively.

The index opened lower, tracking overnight losses on Wall Street, and fluctuated between positive and negative territory before finishing higher.

"Investors have expectations for a turnaround in the semiconductor sector, while uncertainties surrounding Trump's tariff policy linger," said Han Ji-young, an analyst from Kiwoom Securities.

The key stock index rose 2.7 percent from a week ago.

Samsung Electronics jumped 2.49 percent to 61,700 won and chip giant SK hynix advanced 2.62 percent to 215,500 won.

Samsung Biologics surged 2.15 percent to 1,095,000 won and Celltrion added 0.21 percent to 186,700 won.

LG Energy Solution lost 1.64 percent to 329,000 won and Posco Holdings dipped 1.81 percent to 326,000 won on profit-taking.

Hyundai Motor climbed 1.23 percent to 205,000 won, while Kia gained 0.31 percent to 95,700 won.

Hanwha Aerospace nosedived 13.02 percent to 628,000 won after announcing a plan to raise 3.6 trillion won by issuing around 5.95 million shares. It marks the largest-ever stock sale by a Korean company.

The local currency was trading at 1,462.7 won against the U.S. dollar at 3:30 p.m., up 3.8 won from the previous session. It marked the highest level since Feb. 28, when the won was quoted at 1,463.4 won.

Bond prices, which move inversely to yields, ended mixed. The yield on three-year government bonds gained 0.1 basis point to 2.599 percent, and the return on the benchmark 10-year U.S. government bonds lost 0.3 basis points to end at 4.231 percent.

BY CHO YONG-JUN, YONHAP [cho.yongjun1@joongang.co.kr]