A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the benchmark KOSPI and Kosdaq indices, Friday. Yonhap
Seoul stocks opened higher Friday as investors snapped up bargain-priced semiconductor shares following the previous session's sharp sell-off, despite overnight weakness in U.S. technology stocks.
After opening 1.2 percent higher, the benchmark Korea Composite Stocks Price Index (KOSPI) trimmed some of its earlier gains, rising 53.44 points, or 0.7 percent, to 7,701.53 as of 9:15 a.m.
The index plunged 7.89 percent the previous session, dragged by heavy sell-off in Samsung Electronics and SK hynix.
Overnight, The Dow Jones Industrial Average rose more than 1 percent to a record high as weaker-than-expected June jobs data eased concerns over a near-term interest rate hike. The tech-heavy Nasdaq fell 0.8 percent, weighed down by another sharp sell-off in semiconductor stocks.
