SEOUL: Seoul shares edged up 0.7 percent after volatile trade on Friday, helped by a rebound in transporters and construction issues including Korean Air Line and Hyundai Engineering & Construction.
The Korea Composite Stock Price Index (KOSPI) ended up 0.69 percent at 1,963.43 points.
"The market is doing unexpectedly well, probably due to its recent falls. It is firming support at (the 120-day moving average around) 1,960 points," said Kwak Joong-bo, a market analyst at Samsung Securities, attributing the rebound to a retreat in oil prices.
Crude oil prices dropped sharply from 2-1/2-year highs in their US trade on Thursday on speculation Libyan leader Muammar Gaddafi had been shot.
"But uncertainty still looms large. If the situation in Libya or the Middle East deteriorates, the market will quickly lose the recovery it made today," Kwak added.
A robust bounce in construction issues and airlines following their latest sharp falls gave the market help.
Shares in Daewoo Engineering & Construction rose 4.1 percent and Hyundai Engineering & Construction jumped 6.4 percent.
Korean Air Line, the country's top airline, rose 4.8 percent and Asiana Airlines advanced 2 percent.
Shares in Samsung Electronics fell 0.3 percent after its parent Samsung Group said on Friday it planned to set up a biopharmaceutical joint venture with initial capital of 300 billion won ($264.4 million).
But shares in biosimilar-related issues rose on expectations that Samsung Group's plans to enter the biosimilar business could advance growth.
Biosimilars maker Hanwha Chemical rose nearly 5 percent while antibody biosimilar producer Isu Abxis jumped 6.1 percent.
Shares in Hynix Semiconductor rose 4 percent after Japanese PC chip maker Elpida Memory Inc said late on Thursday it was considering raising DRAM prices in March as demand grows. A 4 percent gain in the Philadelphia semiconductor index further helped.
Banks retreated, with KB Financial Group losing 0.9 percent and Shinhan Financial Group down 1.1 percent.
SK Telecom rose for a third session after South Korea's top mobile carrier on Friday said it had decided to offer Apple Inc.'s iPhone, confirming earlier media reports. The iPhone was previously carried exclusively by smaller rival KT Corp.
Shares in SK Telecom rose 1.5 percent, but KT fell 0.6 percent.
Trading turnover stood at 4.9 trillion won, compared with average daily turnover of around 7.7 trillion won in January.
The KOSPI 200 March futures index rose 1.45 points to 258.65 points. The KOSPI 200 spot index gained 1.59 points to 259.28 points.
The junior Kosdaq index rose 1.64 percent to 509.33 points.
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