Seoul: South Korean stocks traded markedly higher late Wednesday morning, driven by gains of top-cap Samsung Electronics and other tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.65 points, or 0.79 percent, to 2,632.99 as of 11:20 a.m.
According to Yonhap News Agency, the index opened higher, despite overnight losses on Wall Street, and had maintained the momentum on solid buying by foreign and institutional investors. Market bellwether Samsung Electronics surged 2.08 percent, and chip giant SK hynix soared 1.72 percent. Leading battery maker LG Energy Solution advanced 2 percent, and No. 1 steelmaker POSCO Holdings spiked 3.28 percent. Top automaker Hyundai Motor increased 1.25 percent, and its sister affiliate Kia inched up 0.1 percent.
However, bio shares lost ground. Major bio firm Samsung Biologics shed 0.28 percent, and Celltrion went down 0.11 percent. The local currency was trading at 1,450.35 won against the U.S. dollar at 11:20 a.m., up 2.55 won from the previous session.