Seoul, Dec 18, 2021, SPA -- South Korean stocks rose for a third straight session on Friday, as foreign investors snapped up local stocks on eased uncertainty about the U.S. monetary policy, Yonhap reported. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) increased 11.32 points, or 0.38 percent, to close at 3,017.73 points. Trading volume was moderate at about 438 million shares worth some 11.2 trillion won (US$9.5 billion), with gainers outnumbering losers 510 to 344. Foreigners bought a net 511 billion won while institutions sold a net 4 billion won and retail investors offloaded 524 billion won. Stocks came off to a weak start, tracking an overnight stock plunge on Wall Street. Overnight, the tech-heavy Nasdaq composite shed 2.47 percent over the Fed's move to double the pace of its stimulus withdrawal and projections of three rate hikes next year. The Dow Jones Industrial Average slipped 0.08 percent. But after choppy trading in the morning, the KOSPI gained ground in the afternoon, led by foreign and institutional buying. Market bellwether Samsung Electronics added 0.26 percent to 78,000 won, while No. 2 chipmaker SK hynix decreased 1.61 percent to 122,000 won. Internet portal operator Naver retreated 0.77 percent to 384,500 won, leading chemical firm LG Chem fell 1.13 percent to 697,000 won, and pharmaceutical giant Samsung Biologics shed 0.31 percent to 955,000 won. Top bank cap Kakao Bank advanced 1.27 percent to 63,900 won, and financial heavyweight KB Financial Group increased 3.18 percent to 58,400 won. Steelmaker POSCO grew 3 percent to 292,000 won. The local currency closed at 1,180.9 won against the U.S. dollar, up 3 won from the previous session's close. --SPA 02:35 LOCAL TIME 23:35 GMT 0003 www.spa.gov.sa/w1666803