Seoul shares ended 0.06 percent higher on Friday lifted by gains in autos and POSCO, but losses in crude refiners weighed. The Korea Composite Stock Price Index (KOSPI) finished up 0.06 percent at 1,695.63 points. Crude refiners led losses, with S-Oil falling 3.45 percent and SK Energy down 3.11 percent. Samsung Life fell 1.3 percent in its third trading day, weighed by foreign net selling, with Credit Suisse and Merrill Lynch top sellers of the stock.
Shares in POSCO ended up 1.53 percent amid news the world's No 4 steelmaker had been picked as the preferred buyer of trading firm and resources developer Daewoo International. Shares in Hyundai Motor rose 2.12 percent to 144,500 won, posting a fresh record closing high and bringing its gains since the start of the year to 19.4 percent. Affiliate Kia Motors also hit a new record closing high, finishing up 2.41 percent at 31,900 won.
Citi raised its target price on Hyundai Motor to 175,000 won and Kia Motors to 40,000 won. Institutions offloaded a net 12.6 billion won worth of stocks and retail investors bought a net 225.4 billion won worth.
Foreign investors sold a net 196.8 billion won. Decliners outnumbered advancers 439 to 372 and 60 issues ended flat. Trading volume stood at 411.1 million shares worth 6.6 trillion won, compared with 390.1 million shares worth 5.9 trillion won in the previous session. The KOSPI 200 June futures index ended down 1.05 points at 220.45, and the KOSPI 200 spot index rose 0.28 points to 221.08. The junior Kosdaq market ended 0.47 percent higher at 524.98.
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