Seoul shares down late Fri. morning on profit-taking amid hopes for peace in Mideast

▲ Officials work at the dealing room of Hana Bank in Seoul on April 17, 2026. (Yonhap)

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Seoul shares down late Fri. morning on profit-taking amid hopes for peace in Mideast

SEOUL, April 17 (Yonhap) -- South Korean stocks traded lower late Friday morning as investors took profits following a recent rally, despite rising optimism over peace in the Middle East.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 23.07 points, or 0.37 percent, to 6,202.98 as of 11:20 a.m.

The index has risen for three consecutive sessions, closing above the 6,200-point mark Thursday for the first time since the outbreak of the U.S.-Iran conflict on Feb. 28.

Investors are awaiting progress in recent diplomatic moves involving the Unites States, Israel, Iran and Pakistan that could help extend a truce and reopen the Strait of Hormuz.

Hopes for a second round of peace talks between Washington and Tehran have gained traction after U.S. President Donald Trump said the next meeting between the two sides could take place over the weekend.

He also noted that Israel and Lebanon had agreed to a 10-day ceasefire.

In Seoul, tech and defense shares led the early losses.

Tech giant Samsung Electronics fell 0.23 percent and its chipmaking rival SK hynix lost 1.17 percent.

Defense giant Hanwha Aerospace declined 5.73 percent and LIG D&A, formerly LIG Nex1, dropped 0.91 percent.

Kia, the country's second-largest carmaker, decreased 0.06 percent and major shipbuilder Hanwha Ocean retreated 1.74 percent.

However, leading mobile carrier SK Telecom rose 1.56 percent and major cosmetics manufacturer Cosmax advanced 4.91 percent.

The local currency was trading at 1,479.95 won against the greenback at 11:20 a.m., down 5.85 won from the previous session.

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