This photo, taken Friday, shows the trading room of Hana Bank in Seoul as South Korean reached a new high on AI stock gains and optimism for a Middle East peace deal. Photo by Yonhap
South Korean stocks rebounded to a fresh all-time high Friday, driven by strong gains in stocks related to artificial intelligence (AI) and renewed optimism about a potential ceasefire in the Middle East. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 290.86 points, or 3.55 percent, to close at 8,476.15, after hitting a new intraday high of 8,615.09.
Trade volume was heavy at 701.5 million shares worth 73.7 trillion won (US$48.9 billion), with losers outnumbering winners 686 to 205.
Foreign and individual investors unloaded local shares worth a net 1.04 trillion won and 1.4 trillion won, respectively, while institutions scooped up a net 2.37 trillion won.
