Kospi closes up 0.45% on bargain hunting for tech shares

Stocks ended slightly higher Friday as investors scooped up major technology shares on bargain hunting, offsetting concerns over rising interest rates and oil prices. The won rose against the dollar.

After opening lower, the Kospi went up 32.39 points, or 0.45 percent, to close at 7,003.74.

Overnight, U.S. stocks finished modestly higher as benchmark Treasury yields eased from fresh multi-decade highs, although gains were capped by rising crude oil prices.

The Dow Jones Industrial Average rose 0.04 percent, while the benchmark S&P 500 gained 0.19 percent. The tech-heavy Nasdaq composite added 0.04 percent.

The local currency rose 7.8 won from the previous session's close to trade at 1,350.6 against the greenback as of 3:30 p.m.

Yonhap