Seoul:South Korean stocks edged up slightly on Friday as investors capitalized on bargain hunting in major technology stocks, despite ongoing concerns over rising interest rates and oil prices. Concurrently, the Korean won strengthened against the U.S. dollar.

According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) rose 32.39 points, or 0.45 percent, to close at 7,003.74 after an initial dip at the opening. This movement reflected a broader trend seen in U.S. markets, where stocks closed modestly higher as Treasury yields eased from their recent highs, although gains were limited by increasing crude oil prices.

Trade volume in Seoul was relatively light, with 227.64 million shares changing hands at a value of 15.29 trillion won (approximately US$11.32 billion). Advancers outpaced decliners by 500 to 359. In terms of trading behavior, foreign investors and individuals sold a net 143.78 billion won and 1.72 trillion won, respectively, while institutions were net buyers, purchasing 381.38 billion won.

Market analyst Han Ji-young from Kiwoom Securities noted that the domestic stock market is currently navigating macroeconomic uncertainties, including interest rate hikes and volatile oil prices. However, improving expectations for an earnings recovery are providing some upward momentum.

The performance of market heavyweights was mixed. Samsung Electronics remained unchanged at 276,000 won, whereas SK hynix rose by 0.44 percent to 1.84 million won. Other notable movements included SK Square, which increased by 0.43 percent to 1.16 million won, and Samsung Electro-Mechanics, which saw a 1.28 percent rise to 1.58 million won.

The Korean won was valued at 1,350.6 won per U.S. dollar as of 330 p.m., marking an increase of 7.8 won from the previous trading session. Meanwhile, bond prices closed higher, with the yield on three-year Treasurys dropping by 7.3 basis points to 3,937, and the yield on five-year government bonds falling by 7.1 basis points to 4.129.