KOSPI edged higher Friday as gains in chipmakers, fueled by expectations for stronger shareholder returns, offset concerns over rising U.S. Treasury yields. The benchmark index closed at 6,912.95, up 0.88 percent, or 60.37 points, from the previous session. The index opened 1.35 percent lower but reversed course to close higher as semiconductor stocks led the rebound. Foreign investors and retail investors sold a net 170.7 billion won ($123 million) and 1.17 trillion won, respectively, while institutional investors bought a net 248.7 billion won. SK hynix rose 2.31 percent to 1.73 million won, while Samsung Electronics climbed 3.87 percent to 281,500 won, as expectations for stronger shareholder returns boosted demand for the chipmakers. SK hynix announced a 40 trillion won share buyback and cancellation program on Wednesday. The company also strengthened its shareholder return policy, pledging to return at least 50 percent of cumulative free cash flow to shareholders. Samsung Electronics is also reportedly planning to approve a shareholder return program worth more than 100 trillion won,