Seoul shares edged up on Friday lifted by a rally in shipyards, including Daewoo Shipbuilding & Marine Engineering, and as foreign buyers scooped up shares for an 18th straight session. The Korea Composite Stock Price Index (KOSPI) ended up 0.27 percent at 2,127.97 points.
Foreign investors were buyers of a net 96 billion Korean won ($88.3 mln) worth of stocks, picking up shares for an 18th consecutive session, the longest buying streak since October 2010. Hyundai Heavy Industries Co Ltd, the world's No 1 shipbuilder, rose 3.6 percent on news the company had signed a letter of intent with Norwegian shipping and LNG company Hoegh LNG for delivery of up to six floating storage and regasification units (FSRUs). Analysts estimated each unit could be worth $200-300 million. Shares in SK Telecom fell 0.9 percent and KT lost 0.3 percent. The KOSPI 200 June futures fell 0.05 points to 281.90 and the KOSPI 200 spot index rose 0.6 points to 281.05. The junior Kosdaq market ended down 0.14 percent at 534.20.