Seoul stocks sharply up late Wednesday morning amid eased US tariff woes

Traders work inside the dealing room of Hana Bank in central Seoul, Wednesday. Yonhap

Korean stocks were trading sharply higher late Wednesday morning, boosted by gains in semiconductors, auto and bio shares, and are set for a new high.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 72.91 points, or 1.43 percent, to 5,157.76 as of 11:20 a.m.

Most large-cap shares were trading higher after U.S. President Donald Trump's conciliatory remarks on a trade deal with South Korea reinforced investor confidence.

Market top-cap Samsung Electronics advanced 1.5 percent, while its chip-making rival SK hynix jumped 5.25 percent.

Industry leader Hyundai Motor added 1.13 percent, Celltrion moved up 3.78 percent, and defense giant Hanwha Aerospace rose 2.76 percent.

Among the decliners were HD Hyundai Heavy Industries, which slid 0.68 percent, and major financial group KB Financial, which fell 2.31 percent.

The Korean won was trading at 1,431 won against the U.S. dollar as of 11:24 a.m., up 15.2 won from the previous session's close.