Seoul stocks rise for 2nd session on export strength, easing Fed rate concerns

Seoul stocks experienced a second consecutive day of gains on Friday, closing nearly 2 percent higher, driven by robust export figures and reduced concerns over potential U.S. interest rate hikes, according to Yonhap news agency. The Korean won strengthened against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) ended the session at 6,687.21, up 1.64 percent from the previous day, following a 0.26 percent increase the day before.

The index benefited from investments from foreign and institutional investors, who purchased local heavyweights. Easing rate hike concerns were reported following comments from Federal Reserve Governor Christopher Waller, who suggested during a meeting that recent data indicated signs of disinflation. Analyst Lee Kyoung-min from Daishin Securities noted that risks persist from the Middle East and the yen carry trade.