Seoul shares up Wednesday morning on eased tariff woes

A dealing room at Hana Bank in central Seoul, Wednesday / Yonhap

Korean stocks traded higher late Wednesday morning, led by gains from chips and defense shares amid eased global tariff concerns.

The benchmark Korea Composite Stock Price Index (KOSPI) had added 20.49 points, or 0.79 percent, to 2,628.91 as of 11:20 a.m.

On Wall Street overnight, the S&P 500 and the Nasdaq closed higher on softer-than-expected U.S. inflation and optimism from a trade deal between the United States and China.

In Seoul, semiconductor shares led the early increase over news of Nvidia's plan to supply 18,000 units of its artificial intelligence (AI) chip Blackwell to Saudi Arabia.

Market bellwether Samsung Electronics edged up 0.7 percent and its chipmaking rival SK hynix jumped 4.28 percent.

Defense giant Hanwha Aerospace advanced 2.36 percent, and Korea Aerospace Industries (KAI) vaulted 5.23 percent.

K-pop agency Hybe mounted 3.18 percent, and instant noodle maker Samyang Food went up 2.21 percent.

The local currency was trading at 1,414.35 won against the U.S. dollar at 11:20 a.m., up 2.05 won from the previous session.