South Korean stocks snapped a four-day winning streak on Friday, as foreign investors sold off shares to lock in profits after recent gains.
The Korea Composite Stock Price Index or Kospi fell by 7.46 points, or 0.23%, to end at 3,175.77. The Kosdaq increased by 2.77 points, or 0.35%, to close at 800.47.
Foreign investors sold a net 126.4 billion won worth of shares, while institutions offloaded 66.4 billion won, outweighing individual investors' net purchase of 146.7 billion won.
In economic news, South Korea's exports rose 9.5% to $19.4 billion in the first 10 days of July from $17.7 billion a year earlier, Friday data from the Korea Customs Service showed.
Imports increased 1.8% to $20 billion from $19.6 billion, resulting in a $594 million trade deficit.
In corporate news, SK Inc.'s (KRX:034730) battery-making unit, SK On, signed a memorandum of understanding with L&F (KRX:066970) to supply cathode materials for lithium iron phosphate (LFP) batteries targeting North America's energy storage system (ESS) market.
The two firms will finalize supply details soon, aiming for a long-term partnership. SK On seeks to meet the increasing US LFP demand, fueled by AI-driven data centers, and expand its battery portfolio with safer, cost-effective ESS solutions.
Shares of SK Inc. fell nearly 5% in recent trade while those of L&F rose over 11%.
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