South Korea's Kospi rose 2% to hit a record high on Friday, amid regional gains after the White House said that U.S. President Donald Trump and China's President Xi Jinping were set to hold talks next week.

U.S. Press Secretary Karoline Leavitt said Trump will leave for Malaysia late Friday and then travel to Japan and South Korea, meeting Xi next Thursday after speaking at the Asia-Pacific Economic Cooperation CEO Summit, Reuters reported.

South Korea's small-cap Kosdaq was 0.92% higher. The country's finance ministry said Friday it was ready to step in to stabilize the foreign exchange market if needed, amid persistent volatility in the won-dollar trade.

The South Korean won, which strengthened 0.11% to 1,434.7 against the dollar on Friday, has dropped more than 4% against the green

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