South Korean shares closed slightly higher on Tuesday for a third consecutive session as foreign investors ramped up their purchase of domestic stocks.
The Korea Composite Stock Price Index, or Kospi, was up by 3.46 points, or 0.14%, to close at 2,492.1. The Kosdaq also rose by 0.33 points, or 0.05%, to end at 718.29.
In economic news, South Korea's cosmetics exports surged 20.6% year on year to a record $10.2 billion in 2024 from $8.46 billion in 2023, driven by strong demand for skincare and cleansing products, data from the Ministry of Food and Drug Safety indicated.
China remained the top importer with $2.5 billion but witnessed its share drop to 24.5%, while exports to the US soared by 57% to $1.9 billion. Exports to Japan also crossed $1 billion for the first time, marking a 29.2% increase. Other key importers comprise Hong Kong, Vietnam, Russia, and Taiwan.
In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) commenced its 2025 export activities with the delivery of a 174,000-cubic-meter liquefied natural gas (LNG) carrier ordered in June 2022 by an Asian shipping company.
The vessel was completed in 2.5 years at the firm's affiliate HD Hyundai Samho Heavy Industries' shipyard in Yeongam.
Shares of HD Korea Shipbuilding & Offshore Engineering rose nearly 3% at market close on Tuesday.
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