KB News Desk
Seoul shares ended higher Tuesday on a rebound in technology heavyweights, although investors remained concerned about renewed tensions in the Middle East and uncertainty surrounding the artificial intelligence sector. The Korean won rose against the US dollar.
After opening 0.56 percent lower, the benchmark Korea Composite Stock Price Index reversed course to close 49.9 points, or 0.73 percent, higher at 6,856.83.
The index fell to an intraday low of 6,448.86.
The rebound followed a 9 percent plunge in the Kospi the previous session, driven by a massive sell-off in technology stocks.
Overnight, the Dow Jones Industrial Average fell 0.26 percent, while the tech-heavy Nasdaq composite dropped 1.55 percent.
Investors also monitored developments in the Middle East following the latest exchange of attacks between the United States and Iran over the status of the Strait of Hormuz, while awaiting US inflation data due later in the day for fresh clues about the outlook for interest rates, analysts said.
Institutions and foreigners bought a net 3.22 trillion won ($2.15 billion) and 952.7 billion won worth of stocks, respectively. Retail investors sold a net 4.14 trillion won.
Tech stocks led the gains.
Market bellwether Samsung Electronics rose 3.34 percent to 263,000 won, while its chipmaking rival SK hynix climbed 3.69 percent to 1,913,000 won.
Flag carrier Korean Air rose 2.51 percent to 26,500 won, and shipping firm HMM gained 1.07 percent to 19,760 won.
Among decliners, top carmaker Hyundai Motor fell 4.39 percent to 424,500 won, and defense giant Hanwha Aerospace declined 6.84 percent to 872,000 won.
The Korean won was quoted at 1,493 won against the US dollar at 3:30 p.m., up 10.4 won from the previous session. (Yonhap)
