SEOUL– South Korean stocks shifted to positive terrain late Wednesday morning as investor sentiment was uplifted by strong exports last month.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.54 point, or 0.02 percent, to trade at 3,199.81 points as of 11:20 a.m.
Stocks started off the session lower, tracking a muted session on Wall Street.
Overnight, the Dow Jones Industrial Average fell 0.11 percent, while the tech heavy Nasdaq composite inched down 0.04 percent.
The KOSPI, however, swung to gains after robust export data. The country’s exports last month jumped 35 percent on-year, extending their gains for the 10th month.
Most large caps in Seoul traded lower.
Market kingpin Samsung Electronics was down 0.52 percent, while No. 2 chipmaker SK hynix fell 0.47 percent.
Pharmaceutical firm Samsung Biologics slipped 0.52 percent, while Celltrion retreated 0.85 percent.
Internet portal giant Naver advanced 0.68 percent, while online messaging giant Kakao shed 0.32 percent.
Top automaker Hyundai Motor gained 1.18 percent, while leading chemical firm LG Chem lost 2.51 percent.
The local currency was trading at 1,157.9 won against the U.S. dollar, up 1.9 won from the previous session’s close.
Source: Yonhap News Agency