Kospi rebounds 3.26% in volatile trading on bargain hunting

South Korean stocks rebounded more than 3 percent Wednesday as investors snapped up major semiconductor shares following one of the market's steepest declines on record in the previous session.

The local currency weakened against the US dollar.

After choppy trading, the benchmark Korea Composite Stock Price Index gained 267.18 points, or 3.26 percent, to close at 8,471.02.

The Kospi, which had opened higher, briefly fell into negative territory on heavy foreign selling and dropped close to the 8 ...