Seoul shares up late Fri. morning on bargain hunting

stocks-morning

Seoul shares up late Fri. morning on bargain hunting

SEOUL, Aug. 30 (Yonhap) -- South Korean shares traded higher late Friday morning as investors picked up tech, auto and other blue chip bargains following losses the previous session.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 18.14 points, or 0.68 percent, to 2,680.42 as of 11:20 a.m.

Overnight, U.S. stocks ended mixed after experiencing rollercoaster-like volatility amid differing views on Nvidia's earnings, with some expressing disappointment while others saw the results as alleviating uncertainty in the market.

The Dow Jones Industrial Average rose 0.59 percent, with the S&P 500 ending flat. The tech-heavy Nasdaq composite slipped 0.23 percent.

In Seoul, top cap Samsung Electronics and major chipmaker SK hynix rose 0.95 percent and 1.59 percent, respectively, following steep losses the previous session following Nvidia's earnings announcement.

Automotive and bio shares also gained traction.

Top automotive company Hyundai Motor rose 0.97 percent, and Samsung Biologics added 1.36 percent.

Battery makers, however, retreated after recording gains in the past few sessions. Industry leader LG Energy Solution shed 0.51 percent.

The local currency was trading at 1,334.55 won against the U.S. dollar, down 1.35 won from the previous session.

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