The South Korean stock market has finished higher now in back-to-back sessions, collecting nearly 30 points or 1.4 percent in the process. The KOSPI finished just above the 1,675-point plateau, and now investors are expecting the market to extend its gains when it opens for business on Monday.
The global forecast for the Asian bourses is cautiously optimistic, drawing support from firmer commodity prices - while airlines and technology stocks also are expected to move higher. The European and U.S. markets finished solidly higher, and the Asian markets are predicted to follow that lead.
The KOSPI finished sharply higher on Friday, thanks to gains from the shipbuilders, steel producers and technology stocks.
For the day, the index collected 23.64 points or 1.43 percent to finish at 1,675.34 after trading between 1,662.75 and 1,681.70. Volume was 362.78 million shares, worth 5.3 trillion won. There were 502 gainers and 299 decliners.
Among the gainers, Hyundai Heavy Industries surged 6.49 percent, while Hyundai Mipo Dockyard jumped 4.07 percent, Samsung Heavy Industries climbed 4.46 percent, POSCO added 3.79 percent, Hyundai Steel gained 0.81 percent, Samsung Electronics was up 3.1 percent, LG Display collected 2.1 percent, Hyundai Motor gained 1.5 percent and Daewoo Shipbuilding & Marine Engineering jumped 2.5 percent.
The lead from Wall Street is firmly positive as stocks saw solid gains to close out the week on Friday, with some market fears seeming to abate ahead of the weekend, prompting a flurry of late-session buying. The late buying came as traders shook off earlier uncertainty prompted by a mixed batch of data on retail sales and consumer sentiment. The major averages all ended in positive territory, further offsetting recent losses.
Market sentiment was weakened before the start of trading as the Commerce Department released a report showing an unexpected decline in May retail sales. The report showed the headline figure slipping by 1.2 percent after a revised 0.6 percent increase in April, while economists expected retail sales to increase by 0.2 percent.
However, the markets were able to see a limited rebound as consumer sentiment saw a notable improvement in the month of June, according to a report released by Reuters and the University of Michigan. The consumer sentiment index rose to a reading of 75.5 in June from the final reading of 73.6 in May. Economists had expected the index to show a more modest increase to a reading of about 74.5. With the increase, the index jumped to its highest level since January of 2008.
On the corporate front, BP ended 3.6 percent higher, continuing its rebound from Wednesday's nearly 16 percent plunge. The firm remains at a critical juncture, as it is set to decide whether to suspend its dividend amid swelling cleanup costs from the ongoing oil spill in the Gulf of Mexico.
The major averages all surged late in the day, closing near their best levels of the day. The Down advanced by 38.54 points or 0.4 percent to 10,211.07, the NASDAQ advanced 24.89 points or 1.1 percent to 2,243.60 and the S&P 500 rose by 4.76 points or 0.4 percent to 1,091.60.
With substantial gains late in the week, the major averages all closed higher for the week. The NASDAQ rose by 1.1 percent for the week, while the Dow and the S&P 500 saw weekly gains of 2.8 percent and 2.5 percent, respectively.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.