South Korean shares closed with minimal movement on Friday, as investors adopted a cautious approach ahead of the release of key US inflation data later in the day. This data is expected to set the pace for the US Federal Reserve’s rate-setting decision.
The Korea Composite Stock Price Index or KOSPI, South Korea’s benchmark index, was up by 0.81 points, or 0.03%, to finish at 2,746.63. The tech-heavy KOSDAQ decreased by 4.55 points, or 0.50%, to 905.5.
Economic data released on Friday showed South Korea’s industrial production growing at a slower pace compared with January. The index rose 2% year-on-year in February, significantly lower than the 7.4% growth recorded in the previous month. However, on a month-on-month basis, industrial production saw a 1.3% increase, which is higher than January’s 0.4% growth.
In corporate news, Kia’s 000270 2024 Kia EV9 bagged the Car of the Year and the Electric Vehicle Title at the 2024 World Car Awards. Using the E-GMP platform, the EV9 brings together Kia’s model integrating fourth-generation battery technology, and boosting overall performance, the company said in a release.
Shares of Kia fell nearly 2% at market close.
Elsewhere, Doosan Enerbility 
034020 announced plans to engage in the development of aircraft engines during its routine shareholders’ meeting on Tuesday. Shares of Doosan Enerbility fell nearly 2% at market close.
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