Seoul: South Korean stocks extended gains late Friday morning as the latest earnings report by Wall Street-listed Broadcom eased woes over an artificial intelligence (AI) bubble. The benchmark Korea Composite Stock Price Index (KOSPI) added 46.19 points, or 1.12 percent, to 4,156.81 as of 11:20 a.m.

According to Yonhap News Agency, top cap Samsung Electronics rose 1.16 percent and SK hynix added 1.68 percent. Financial shares also traded higher, with KB Financial increasing 0.56 percent and Shinhan Financial Group moving up 1.04 percent. Samsung Fire and Marine Insurance experienced a significant crash of 21.83 percent, following the previous day's abrupt 28.31 percent gain without clear reason.

The local currency was trading at 1,472.2 won against the greenback at 11:20 a.m., up 0.8 won from the previous session.