Seoul: South Korean stocks traded higher late Monday morning, led by foreign buying, as semiconductor shares gathered ground despite valuation concerns about artificial intelligence (AI)-related equities. The benchmark Korea Composite Stock Price Index (KOSPI) had added 73.12 points, or 1.82 percent, to 4084.69 as of 11:20 a.m.
According to Yonhap News Agency, the index opened higher after a marked fall in the previous session and extended gains on solid foreign buying. Concerns about a potential AI bubble persist, but investors are looking to Nvidia's earnings later this week to gauge the momentum of the sector's future growth.
Market bellwether Samsung Electronics advanced 3.4 percent, and chip giant SK hynix soared 7.14 percent. Leading battery maker LG Energy Solution grew 0.43 percent. Shipbuilders gathered ground, with leading shipbuilder HD Hyundai Heavy surging 2.73 percent, and its rival Hanwha Ocean jumping 2.01 percent.
Nuclear power plant builder Doosan Enerbility climbed 1.15 percent, and the state-run utility firm KEPCO jumped 3.8 percent. Defense giant Hanwha Aerospace added 0.52 percent. Top automaker Hyundai Motor remained unchanged, while its sister affiliate Kia rose 0.51 percent. Major bio company Samsung Biologics stayed flat, while Celltrion dipped 3.2 percent.
The local currency was trading at 1,458.6 won against the U.S. dollar at 11:20 a.m., down 1.6 won from the previous session.