South Korean stocks declined on Friday amid the ongoing uncertainty related to US tariffs on Canada and Mexico. Investor sentiment remained pessimistic as they anticipated a global trade war.
The Korea Composite Stock Price Index, or Kospi, was down by 12.68 points, or 0.5%, to close at 2,563.48. The Kosdaq also fell 7.22 points, or 1%, to 727.7.
Retail investors sold 186.7 billion won worth of domestic shares, while foreigners and institutions bought 49.8 billion won and 30 billion won, respectively.
In economic news, South Korea’s current account surplus decreased to $2.94 billion in January from $12.37 billion in the previous month, according to preliminary data from the Bank of Korea released Friday.
Compared with the year-ago period, the figure fell from a surplus of $3.05 billion.
The goods account registered a surplus of $2.50 billion, driven by a 9.1% annual decline in exports to $49.81 billion. Imports also fell 6.2% to $47.31 billion from the previous year.
Meanwhile, the services account posted a deficit of $2.06 billion, primarily due to deficits in manufacturing services, travel, and other business services accounts.
The primary income account recorded a $2.62 billion surplus in the month, owing to higher equity income.
In corporate news, food company Nongshim 
004370 will increase the prices of 14 instant noodles and three snack products by an average of 7.2% and 7.4%, respectively, beginning March 17.
The price of its flagship Shin Ramyun will rise to 1,000 won, while that of Saeukkang will go up to 1,500 won, reversing cuts made in July 2023 under government pressure. The company cited a weak domestic currency and higher raw material costs, including palm oil and starch, as reasons for the hike in product prices.
Shares of Nongshim rose more than 1 at market close on Friday.
