The South Korean market is trading notably higher on Friday with encouraging economic reports from U.S. triggering some strong buying in stocks across various sectors.
Banking, technology, shipping and oil stocks are mostly up with notable gains. The benchmark KOSPI index is up 21.7 points or 1.22% at 1,806. On Thursday, the index had ended up 5.1points or 0.3% at 1,784.4.
Among bank stocks, Woori Finance, Shinhan Financial and KB Financial are up 1.7%-2%, while Korea Exchange Bank is up as much as 3.3%.
Technology stocks LG Display LCD, LG Electronics, Samsung Electronics and Hynix Semiconductor are up 1.7%-2% over their previous closing prices.
Among shipping stocks, Hyundai Heavy Industries, STX Pan Ocean and Daewoo Shipbuilding are trading higher by 1.8%-2%, while Samsung Heavy Industries is up with a gain of 2.7%.
Oil stocks SK Holdings and S-Oil are up 3.2% and 5.3% respectively. KEPCO is trading stronger by about 3.7%. Steel stocks Hyundai Steel and POSCO are trading modestly lower.
Among automobile stocks, Ssangyong Motor is down 1.8%, while Kia Motor and Hyundai Motor are up 0.3% and 1% respectively. Airlines and telecommunications stocks are up with modest gains.
Among other markets in the Asia-Pacific region, Japan is trading sharply higher. Taiwan and New Zealand are up with modest gains, while Australia and Shanghai are trading weak. Markets across the region ended mostly higher on Thursday.
On Wall Street, stocks closed with modest gains on Thursday, as jobless claims fell by more than forecast, although dark clouds from the European financial crisis limited the upside.
The major averages saw some downside in late-session dealing but managed to end the day above the unchanged line. The Dow edged up by 28.2 points or 0.3% to 10,415.2, the Nasdaq advanced by 7.3 points or 0.3% to 2,236.2 and the S&P 500 ended up 5.3 points or 0.5% at 1,104.2.
Major European markets ended with strong gains on Thursday. The U.K.'s FTSE 100 index and the French CAC 40 index both jumped by 1.2%, while the German DAX index ended 0.9% up.
Crude oil prices settled lower on Thursday, reversing from a multi-week high reached during the session as traders cashed in profits. Modest strength in the greenback also weighed. Light, sweet crude for October delivery settled down US$0.42 at US$74.25 a barrel on the New York Mercantile Exchange, after trading as high as US$75.96.
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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.