South Korean shares closed lower on Friday, but logged a second straight weekly gain on hopes the U.S. and Iran could secure a permanent ceasefire ahead of the expiry of truce next week. The won weakened, while the benchmark bond yield rose.
Among index heavyweights, chipmaker Samsung Electronics fell 0.69%, while peer SK Hynix lost 2.34%. Battery maker LG Energy Solution climbed 0.48%. Hyundai Motor and sister automaker Kia Corp were up 0.75% and up 0.82%, respectively. Steelmaker POSCO Holdings added 4.05%, while drugmaker Samsung BioLogics fell 0.93%.
Foreigners were net sellers of shares worth 1,997.1 billion won. In offshore trading, the won was quoted at 1,482.7 per dollar, down 0.2% on the day. The KOSPI has risen 46.93% so far this year, while the won has weakened 3.0% against the dollar this year.
