SEOUL, South Korean stocks are likely to continue to face volatility next week as investors take to the sidelines amid the spreading omicron strain of the coronavirus.

The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,968.33 points Friday, up 1.09 percent from 2,936.44 points a week ago.

The KOSPI plunged Monday and Tuesday in the wake of the first confirmed cases of the omicron variant of COVID-19 in South Korea and other countries, fanning concerns major economies around the world may toughen their lockdown measures to contain the pandemic.

The key stock index rebounded afterwards largely on foreign investors' rush to scoop up oversold chip and IT stocks.

Source: Yonhap News Agency