(LEAD) Seoul shares end higher despite hawkish Fed chief

Seoul's stock market ended higher on Monday, propelled by a rebound in technology stocks, despite hawkish remarks from Federal Reserve Chair Kevin Warsh. The Korea Composite Stock Price Index (KOSPI) rebounded from a 2.58 percent opening dip, closing 0.46 percent higher at 6,820.02 points. This marked a stark contrast to Wall Street's Friday losses, with the Dow Jones Industrial Average falling 0.02 percent and the tech-heavy Nasdaq Composite declining 0.52 percent.

Warsh's speech at the Jackson Hole symposium served as a catalyst for caution among investors. Despite his warning about persistent inflation concerns, which could potentially trigger additional rate hikes this year, KOSPI's recovery was notably robust. The gains, however, were curtailed by net selling by institutional, foreign, and retail investors, totaling 793.12 billion won, 639.86 billion won, and 144.33 billion won respectively.

Among the top gainers, Samsung Electronics and SK hynix, both chipmaking giants, both rose by 1.17 and 1.27 percent respectively. Hyundai Motor, a leading carmaker, climbed 1 percent, while LG Energy Solution, a top battery manufacturer, advanced 2.16 percent. In contrast, defense firm Hanwha Aerospace and national carrier Korean Air both fell, with Hanwha Aerospace shedding 4.75 percent and Korean Air declining 2.09 percent.

The Korean won showed resilience, trading at 1,368.6 won per U.S. dollar, a 3.9 won increase from the previous trading session.