SEOUL– South Korean stocks traded higher late Friday morning on the back of large-cap tech gains following the previous session’s deep losses.
The benchmark Korea Composite Stock Price Index (KOSPI) had risen 14.01 points, or 0.57 percent, to 2,456.92 as of 11:20 a.m.
The market opened higher, despite U.S. losses, and had maintained upward momentum on bargain hunting after the KOSPI shed 1.39 percent on top-cap tech losses Thursday.
Foreign and institutional investors were on a net buying mode, offsetting selling by individuals.
Market bellwether Samsung Electronics rose 0.98 percent, and chip giant SK hynix surged 2.05 percent.
Battery maker LG Energy Solutions grew 1.17 percent, and No. 1 chemical firm LG Chem added 0.71 percent. Samsung SDI went up 1.14 percent.
Top automaker Hyundai Motor increased 0.59 percent, while its affiliate Kia remained unchanged.
Major bio shares traded mixed, with Samsung Biologics climbing 1.14 percent but Celltrion going down 0.28 percent.
Internet giant Naver fell 0.53 percent, and Kakao, the operator of the popular mobile messenger Kakao Talk, retreated 1.35 percent.
The local currency was trading at 1,339.85 won against the U.S. dollar, down 0.75 won from the previous session’s close.
Source: Yonhap News Agency