The benchmark KOSPI rose more than 3% to around 5,370 on Friday, recouping losses from the previous session, following reports that Iran and Oman were drafting a protocol to monitor transit through the Strait of Hormuz. The news raised hopes that the key waterway could partially reopen. Meanwhile, US President Donald Trump imposed a 15% tariff on South Korean pharmaceutical products under the bilateral trade agreement.
All sectors traded in the green, led by electronic technology, which rose over 3%, with major index heavyweights climbing, including Samsung Electronics (+4.5%) and SK Hynix (+5.3%). Other notable gainers included Hyundai Motor (+3.9%), LG Electronics (+1.4%), and Hanwha Aerospace (+1.3%). On the economic front, South Korea’s foreign exchange reserves fell to $423.7 billion in March from $427.6 billion in February. For the week, however, the benchmark index is still heading for a second consecutive loss.
