Seoul shares rise nearly 1% to top 2,500 on foreign buying

South Korean stocks rose nearly 1 percent to top 2,500 points Friday as foreign investors returned to net buyers for the first time in 11 sessions. The local currency fell to surpass 1,400 won against the US dollar.

The benchmark Korea Composite Stock Price Index gained 20.61 points, or 0.83 percent, to close at 2,501.24. It is the first time that the main index topped the 2,500-point threshold since it ended at 2,531.66 on Nov. 11.

Trade volume was moderate at 534.9 million shares worth 7.8 trillion won ($5.6 billion), with winners outnumbering losers 514 to 356.

Foreigners scooped up a net 117 billion won to push up the index, snapping its 10-session selling streak that began on Nov. 8.

Institutions also purchased a net 322.7 billion won, while individuals sold a net 534.6 billion won.

Semiconductor shares led the uptick on US AI chip giant Nvidia's better-than-expected third-quarter results earlier this week.

SK hynix, the dominant supplier to Nvidia, jumped 4.68 percent to 176,700 won, and equipment provider Hanmi Semiconductor gained 3.35 percent to 83,400 won.

However, Samsung Electronics retreated 0.71 percent to 56,000 won.

Battery shares were also winners as industry leader LG Energy Solution gained 1.12 percent to 405,000 won and Posco Future M advanced 1.88 percent to 178,400 won.

Top carmaker Hyundai Motor added 0.7 percent to 217,000 won and its sister Kia climbed 0.2 percent to 97,800 won.

Doosan Robotics rose 0.87 percent to 69,400 won on news that the financial watchdog has approved its merger plan with Doosan Bobcat, an industrial equipment manufacturer.

The local currency was trading at 1,401.8 won against the greenback at 3:30 p.m., down 4.3 won from the previous session, surpassing the 1,400 won threshold for the first time since Nov. 14, when it reached 1,405.1 won. (Yonhap)