Officials work at a dealing room of Hana Bank in Seoul, Feb. 13. Yonhap

Korean stocks rose to the highest level in about three months Thursday, led by gains of tech and auto shares, on growing hopes for an exemption from U.S. tariffs. The local currency rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 34.78 points, or 1.36 percent, to close at 2,583.17, extending a winning streak to a third session.

It marked the highest level since Nov. 4, 2024, when the index finished at 2,588.97.

Trade volume was heavy at 669.19 million shares worth 16.82 trillion won ($11.61 billion), with winners outnumbering losers 571 to 309.

Institutions bought a net 656.27 billion won worth of local shares, while foreign and retail investors sold a net 102.86 billion won and 601.93 billion won worth of shares, respectively.

The index opened higher and had risen further, though the U.S. data showing strong inflation led to speculation that the Federal Reserve would delay interest rate cuts.

Investors welcomed the news that U.S. House of Representatives Speaker Mike Johnson said he believes President Donald Trump is considering exemptions to reciprocal tariffs on the auto and pharmaceutical industries.

Eyes are also on talks between Trump and Russian President Vladimir Putin on ways of ending the Russia-Ukraine war.

In Seoul, tech and auto shares led the upturn of the index.

Market bellwether Samsung Electronics added 0.18 percent to 55,900 won, and chip giant SK hynix surged 1.81 percent to 202,500 won.

Leading electric vehicle (EV) battery maker LG Energy Solution soared 3.1 percent to 349,000 won.

No. 1 carmaker Hyundai Motor went up 4.24 percent to 206,500 won, and its sister affiliate Kia jumped 3.27 percent to 94,700 won.

Top steelmaker POSCO Holdings rose 4.34 percent to 240,500 won following recent sharp losses.

Major bio shares traded mixed. Leading bio firm Samsung Biologics climbed 1.3 percent to 1,172,000 won, while Celltrion lost 0.11 percent to 178,500 won.

Among decliners, leading portal operator Naver lost 2 percent to 220,500 won, and Kakao, the operator of the country's top mobile messenger, tumbled 3.81 percent to 40,400 won.

The local currency was quoted at 1,447.5 won against the greenback at 3:30 p.m., up 5.9 won from the previous session.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys shed 2 basis points to 2.631 percent, and the return on the benchmark five-year government bonds fell 1.2 basis points to end at 2.732 percent. (Yonhap)