Seoul stocks open 1.2% higher on bargain hunting

Seoul stocks opened higher Friday as investors snapped up bargain-priced semiconductor shares following the previous session's sharp sell-off, despite overnight weakness in US technology stocks.

After opening 1.2 percent higher, the benchmark Korea Composite Stocks Price Index trimmed some of its earlier gains, rising 53.44 points, or 0.7 percent, to 7,701.53 as of 9:15 a.m.

The index plunged 7.89 percent the previous session, dragged by heavy sell-off in Samsung Electronics and SK hynix.

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