Kospi closes marginally higher on bargain hunting

Shares closed slightly higher Friday after plunging more than 3 percent in the previous session, as investors hunted for bargains in major chip stocks amid persistent concerns over investments in the AI value chain. The won strengthened against the dollar.

After choppy trading, the Kospi rose 16.53 points, or 0.3 percent, to end at 5,550.30.

The index opened 2.36 percent lower, but individual investors, who were net sellers early in the session, turned to net buying.

Overnight, U.S. stocks closed mixed, with losses in major technology shares weighing on the broader market.

The Dow Jones Industrial Average rose 0.02 percent, while the S&P 500 fell 1.21 percent and the tech-heavy Nasdaq Composite shed 2.6 percent.

Micron Technology plunged 6.26 percent, while Nvidia and Intel tumbled 4.4 percent and 8.04 percent, respectively.

In Seoul, most large-cap shares traded mixed.

Samsung Electronics increased 0.47 percent to close at 215,500 won, while rival chipmaker SK hynix went up 4.42 percent to 1.28 million won after opening lower.

The local currency rose 0.4 won from the previous session's close to trade at 1,324.6 against the greenback at 3:30 p.m. 

Yonhap