SEOUL, Oct. 16 (Yonhap) -- Seoul stocks extended gains late Friday morning as investors went bargain hunting for large-cap tech shares.
The benchmark Korea Composite Stock Price Index (KOSPI) was up 154.88 points, or 2.79 percent, to 5,709.1 as of 11:20 a.m.
The index had opened higher after tumbling over 7 percent the previous session amid concerns over the sustainability of artificial intelligence (AI) trade.
Overnight, major stock indexes on Wall Street closed higher, despite declines in major AI shares, while investors kept a close watch on the latest producer price data, which posted the largest gain in 4 1/2 years in September.
The U.S. Producer Price Index surged 1.3 percent last month, led largely by energy price increases stemming from the ongoing war in the Middle East, fanning expectations the Federal Reserve is likely to maintain a hawkish stance on rates.
In Seoul, chip giants Samsung Electronics and SK hynix both added over 2 percent.
Battery maker LG Energy Solution advanced 0.99 percent, auto industry leader Hyundai Motor jumped 6.77 percent and defense giant Hanwha Aerospace vaulted 9.1 percent.
The Korean won was trading at 1,345.7 won against the U.S. dollar as of 11:20 a.m., down 3.7 won from the previous stock trading session.
Traders are seen working inside the dealing room of Hana Bank in central Seoul, on Oct. 16, 2026. (Yonhap)
fairydust@yna.co.kr
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