SEOUL, Aug. 21 (Yonhap) -- Seoul stocks ended higher on Friday as investors pin hopes on large-scale shareholder return schemes from the country's top two chipmakers -- Samsung Electronics and SK hynix. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 60.37 points, or 0.88 percent, to 6,912.95, after rising as high as 6,954.12.

"Local stocks were boosted by shareholder return plans by SK hynix and Samsung Electronics, which overshadowed external uncertainties," Daishin Securities analyst Lee Kyoung-min said.

SK hynix announced Wednesday a plan to repurchase some 40 trillion won (US$28.8 billion) worth of common shares as part of a shareholder return plan.

Top cap Samsung Electronics is also expected to announce a shareholder return scheme worth up to 110 trillion won later in the day.

But further advance was limited due to external uncertainties as the U.S. Treasury Department's surprise bond buyback failed to quell lingering concerns about inflation and government debts, and pushed bond yields upward.

fairydust@yna.co.kr

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