Seoul stocks rise 0.88% on hopes for chipmakers’ shareholder returns

Seoul stocks ended higher on Friday, with the benchmark Korea Composite Stock Price Index gaining 60.37 points, or 0.88%, to close at 6,912.95. Investors focused on potential large-scale shareholder return schemes from Samsung Electronics and SK hynix, the country’s top two chipmakers. The index reached an intraday high of 6,954.12, while the Korean won rose against the U.S. dollar. Trading volume was moderate at 404.5 million shares worth 28.7 trillion won ($20.7 billion), although decliners outnumbered advancers 681 to 193.

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