South Korean shares opened lower on Friday despite positive developments at the U.S.-China summit, which drove Wall Street higher in the previous session.
The benchmark Korea Composite Stock Price Index, or Kospi, declined 0.4%, or 29.66 points, to open at 7,951.75. As of 9:15am, the index had gone up by 19.99 points, or 0.25%, to hit 8,001.4. The Kospi took a little over a week to reach a new milestone after crossing the 7,000 mark on May 6.
The Kosdaq increased by 6.14 points to open at 1,197.23.
Amid the key developments in the summit, U.S. President Donald Trump said that China's President Xi Jinping pledged to purchase 200 Boeing jets, and that China is "going to invest hundreds of billions of dollars," in the US, BBC reported.
In addition, Trump, in an interview with Fox News host Sean Hannity, said that the Chinese president had committed to not supply military equipment to Iran.
China has yet to confirm the statements.
Investor sentiment improved after Trump and Jinping agreed that Iran must not secure nuclear weapons and that the Strait of Hormuz should remain open to all for their energy shipments.