South Korean stocks advanced for a seventh consecutive session Thursday amid eased concerns about the omicron variant of the new coronavirus. The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 27.77 points, or 0.93 percent, to close at 3,029.57 points.

Trading volume was moderate at about 496 million shares worth some 12 trillion won ($10.2 billion), with gainers outnumbering losers 656 to 187.

Institutions bought a net 620 billion won, while foreigners sold 147 billion won and retail investors offloaded 500 billion won.

Stocks opened higher, tracking overnight gains on Wall Street.

"Volatility from the omicron uncertainties is being relieved two weeks after the first outbreak, and we have more data about the new variant," said Kiwoom Securities analyst Han Ji-young said.

Tech, steel and chemicals lead the overall market gain.

Market bellwether Samsung Electronics advanced 1.03 percent to 78,200 won, and No. 2 chipmaker SK hynix increased 2.92 percent to 123,500 won.

Internet portal operator Naver increased 1.14 percent to 399,500 won, with its rival Kakao climbing 1.24 percent to 122,500 won.

Among losers, leading carmaker Hyundai Motor lost 0.24 percent to 207,000 won, and giant pharmaceutical firm Samsung Biologics retreated 0.88 percent on easing virus concerns.

Kakao Bank shed 4.89 percent to 64,200 won.

The local currency closed at 1,174. 5 won against the US dollar, up 1.4 won from the previous session's close. (Yonhap)