Seoul: South Korean stocks extended gains Thursday morning, led by a rally in big-cap semiconductor shares. After opening 2.96 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 275.96 points, or 4.19 percent, to 6,855 as of 11:20 a.m.
According to Yonhap News Agency, overnight U.S. stocks tied to the artificial intelligence technology sector rose. The S and P 500 gained 0.26 percent, closing just shy of a record high, while the Nasdaq composite advanced 0.54 percent. In contrast, the Dow Jones Industrial Average edged down 0.04 percent.
In Seoul, blue-chip shares led the advance. Market bellwether Samsung Electronics rose 5.48 percent, while its chipmaking rival SK hynix also jumped 7.55 percent. SK Square, the parent of SK hynix, shot up 8.98 percent, and Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, surged 12.73 percent.
The Korean won was trading at 1,415.1 won against the U.S. dollar as of 11:20 a.m., up 3.4 won from the end of stock trading the previous day.