The won-dollar exchange rate and KOSPI index are displayed on a board in the dealing room of Hana Bank in Seoul, Friday. The won-dollar exchange rate closed at 1,525.6, down 30.2 won from the previous session, while the benchmark KOSPI ended 5.76 percent higher at 8,088.34. Yonhap
Korean stocks rebounded sharply from the previous day's sell-off on Friday, with the benchmark KOSPI reclaiming the 8,000 level as investors piled into large-cap chip shares.
According to the Korea Exchange, KOSPI closed at 8,088.34, up 5.76 percent from the previous session. The index had retreated to the 7,300 level in early trading, but sharp gains in Samsung Electronics and SK hynix helped lift the market, triggering a buy-side sidecar.
Samsung Electronics closed at 309,500 won, up 8.22 percent from the previous session. SK hynix closed at 2,425,000 won, climbing 10.88 percent.
A renewed sell-off in U.S. chip stocks overnight initially weighed on investor sentiment, though bargain hunters appeared to step in after the sharp decline. Sentiment was also supported by Kioxia's rebound in Japan, where the shares turned higher after opening sharply lower, helping lift the sector.
