South Korean Shares End Week Marginally in Black as Investors Await US Fed Rate Cut Decision

South Korean shares closed slightly higher on Friday for a second straight session after Wall Street banked in gains on Thursday. The recent US inflation data reinforced expectations that the Federal Reserve will take a cautious approach next week with its first rate cut in four years, boosting investor sentiment.

Korea Composite Stock Price Index, or Kospi, was up 3.32 points, or 0.13%, to close at 2,575.41. The Kosdaq also rose 2.17 points, or 0.3%, to 733.2.

In economic news, South Korea's export price index, measured in Korean won, rose 5.7% on-year in August, while the import price index added 1.8%, the Bank of Korea reported Friday.

On an on-month basis, the export price index decreased 2.6%, while the import price index also fell 3.5%, the South Korean central bank said.

The net barter terms of trade index rose 0.5% in August compared with a year earlier.

In corporate news, Doosan Enerbility (KRX:034020) signed a memorandum of understanding with four state-owned power companies and small and medium-sized enterprises to develop technology for a 10-megawatt offshore wind turbine as part of a national project.

The project, supported by South Korea's renewable energy research and development grant, aims to reduce supply chain costs.

The four firms are Korea Offshore Wind Power, and Korea Electric Power Corporation (KRX:015760) subsidiaries Korea Hydro & Nuclear Power, Korea Southern Power, and Korea East-West Power.

Shares of Doosan Enerbility rose nearly 3% at market close on Friday.