South Korean shares rebounded Friday on bargain hunting after stock prices recently plunged amid fears over the fast-spreading coronavirus. The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 30.37 points, or 1.34 percent, to close at 2,304.59. Trading volume was high at about 855 million shares worth some 14 trillion won ($11.8 billion), with gainers outnumbering losers 600 to 237.

Foreigners bought a net 197 billion won, ending a two-day selling streak, while retail investors sold a net 136 billion won. Institutions offloaded a net 33 billion won.

The index closed down 3.66 percent in the previous session, as a resurgence in COVID-19 infections since last weekend spooked investors.

"Yesterday's market plunge seems to have triggered counter-buying transactions among foreign and institutional investors," said Bookook Securities researcher Lee Won.

Most large caps traded higher.

Market bellwether Samsung Electronics gained 0.9 percent to 55,900 won, with No. 2 chipmaker SK hynix jumping 3.76 percent to 74,500 won.

Top pharmaceutical company Samsung Biologics climbed 0.63 percent to 799,000 won, while Celltrion retreated 1.31 percent to 301,000 won.

Leading chemical maker LG Chem surged 4.8 percent to 699,000 won, and rechargeable battery maker Samsung SDI added 2.17 percent to 423,500 won.

Hyundai Motor, the country's largest automaker, rose 0.65 percent to 156,000 won, and top steelmaker POSCO advanced 2.05 percent to 199,000 won.

Internet portal company Naver gained 2.29 percent to 312,500 won, with its rival Kakao up 1.51 percent to 370,000 won.

The local currency closed at 1,186.3 won against the US dollar, up 0.6 won from the previous session's close. 

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 4.1 basis points to 0.854 percent, and the return on the benchmark five-year government bond added 4.6 basis points to 1.126 percent. (Yonhap)