Seoul stocks trim early gains late Tuesday morning
The benchmark KOSPI is displayed at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
South Korean stocks trimmed earlier gains late Tuesday morning, after a strong start.
After opening 2.2 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) rose 110.94 points, or 1.58 percent, to 7,188.66 as of 11:20 a.m.
The KOSPI opened sharply higher, tracking a record close for the tech-heavy Nasdaq Composite amid renewed optimism over artificial intelligence (AI) and declines in global oil prices and bond yields.
The index later pared some of its gains as individual investors took profits on major stocks.
Market heavyweights were trading mostly higher.
Top market cap Samsung Electronics rose 1.92 percent, and chip giant SK hynix gained 2.41 percent.
SK Square, the parent company of SK hynix, advanced 2.93 percent, while Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, jumped 5.88 percent.
The Korean won was trading at 1,360.8 won against the U.S. dollar as of 11:20 a.m., up 13.7 won from the previous session's close.