An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)

South Korean stocks closed higher Thursday, led by gains of semiconductor and other big-cap tech shares, as Nvidia's strong quarterly report helped dispel concerns over an artificial intelligence bubble. The local currency weakened against the US dollar.

The benchmark Korea Composite Stock Price Index added 75.34 points, or 1.92 percent, to close at 4,004.85, snapping a two-day losing run.

Trade volume was moderate at 355.8 million shares worth 14.9 trillion won ($10.14 billion), with winners beating losers 749 to 141.

Institutional and foreign investors bought a net 761.95 billion won and 645.66 billion won worth of shares, respectively, while retail investors sold a net 1.39 trillion won worth of shares.

The index opened higher, tracking overnight gains on Wall Street, and climbed as much as 3 percent during intraday trading after Nvidia reported better-than-expected quarterly revenue, raising hopes that the AI-driven market rally could regain momentum despite bubble concerns.

"The KOSPI has fallen 4.3 percent so far in November, and the recent correction has eased valuation burdens," Lee Sung-hoon, an analyst at Kiwoom Securities, said.

"Considering that the earnings cycle of domestic listed companies is still under way, we believe the upward momentum of the local market remains intact despite the short-term volatility," he said.

Market bellwether Samsung Electronics soared 4.25 percent to 100,600 won, and chip giant SK hynix advanced 1.6 percent to 571,000 won.

Major battery maker LG Energy Solution grew 0.8 percent to 441,000 won, and nuclear power plant manufacturer Doosan Enerbility spiked 4.44 percent to 77,700 won.

Leading shipbuilder HD Hyundai Heavy increased 1.57 percent to 583,000 won, and Hanwha Ocean climbed 1.63 percent to 125,000 won.

Defense giant Hanwha Aerospace went up 1.22 percent to 916,000 won, and the state-run utility firm KEPCO surged 3.6 percent to 48,950 won.

But carmakers lost ground. Top automaker Hyundai Motor fell 0.76 percent to 262,000 won, while its sister Kia sank 0.96 percent to 113,400 won.

The local currency was quoted at 1,467.9 won against the greenback at 3:30 p.m., down 2.3 won from the previous session. (Yonhap)