Surging banking shares catapulted Seoul stocks up 2.2 percent to a one-month high on Friday, while foreigners made their biggest purchases in seven weeks after the market underperformed regional peers in the past month. Korea Exchange Bank soared 5.53 percent to 13,350 won after announcing its first annual dividend in more than 10 years.
Other banks also rallied with investors attracted to the sector's stable earnings outlook compared to volatile tech firms, with top lender Kookmin Bank surging 6.45 percent to 82,500 won.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.19 percent to 1,413.14 points, logging its highest finish since January 2 and scoring its biggest one-day percentage gain in seven weeks. Foreign investors bought a net 344 billion won ($367.2 million) worth of stocks on Friday, their heaviest day of net sales since December 14.
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