Seoul:Stocks in Seoul opened higher on Friday, recovering after a seven-day losing streak that saw a significant dip of over 7 percent in the previous session. This rebound comes amid concerns regarding artificial intelligence trade and U.S. inflation.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) increased by 99.77 points, or 1.8 percent, reaching 5,653.99 in early trading.
In the United States, major stock indexes closed higher overnight, although significant shares in AI and semiconductor sectors ended lower. The S&P 500 rose by 0.33 percent, and the Nasdaq saw a slight increase of 0.08 percent.
U.S. producer price data recorded its largest gain in four and a half years in September, reinforcing expectations that the Federal Reserve may hike key interest rates to control inflation.