SEOUL, July 22 (Yonhap) -- South Korean stocks extended gains to nearly 1 percent late Thursday morning as hopes for robust corporate earnings in the second quarter boosted investor sentiment, despite the surging virus pandemic.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.52 points, or 0.95 percent, to 3,246.43 points as of 11:20 a.m.
Stocks rebounded after the KOSPI retreated 2.14 percent in the past four sessions amid the fourth wave of the new coronavirus in the country.
Tech, financial and auto gains led the KOSPI's hike, while bios slumped.
Market kingpin Samsung Electronics advanced 1.4 percent, and No. 2 chipmaker SK hynix added 2.14 percent.
Internet portal operator Naver increased 2.69 percent, after the firm's quarterly net surged nearly six times on-year.
The country's largest steelmaker, POSCO, moved up 2.12 percent, with its quarterly net soaring 18 times on-year.
Pharmaceutical giant Samsung Biologics retreated 1.11 percent, but top automaker Hyundai Motor gained 1.1 percent. Leading chemical firm LG Chem climbed 1.23 percent.
The local currency was trading at 1,151.7 won to the U.S. dollar, up 2.3 won from the previous session's close.