BENGALURU: South Korean shares rose more than 2 percent on Friday but still ended a bruising week lower, as investors balanced revived enthusiasm for AI against concerns over earnings durability and product-related risks.
The benchmark KOSPI closed 2.5 percent higher after rising as much as 5.7 percent and triggering a sidecar trading curb for the third time this week, while the broader MSCI EM Asia gauge climbed 1 percent.
The KOSPI still lost 7.6 percent for the week and has declined 18 percent since reaching a record high in mid-June. Among heavyweights, chipmaker Samsung Electronics rose 2.52 percent on Friday, while peer SK Hynix lost 0.27 percent.
In Southeast Asia, equities in Thailand and the Philippines, both net oil importers, were up 0.6 percent and 1 percent, respectively.
Singapore’s benchmark stock index advanced as much as 0.7 percent to a record high for the sixth consecutive day, with major lenders driving gains. The benchmark was poised to end the week up 4 percent - its best showing since mid-April last year.
Malaysian shares gained 1 percent to hit their highest in nearly three weeks, while the ringgit weakened to 4.063 per dollar.
Among other currencies in the region, the Thai baht, the Singapore dollar and the Indonesian rupiah inched higher, while the South Korean won gained around 0.4 percent. The Philippine peso was up 0.2 percent.