Seoul stocks tad lower late Wednesday morning despite tech gains

The won-dollar exchange rate and Korea Composite Stock Price Index, or KOSPI, are displayed on a screen at a dealing room of Hana Bank in central Seoul, Wednesday. Yonhap

Korean stocks trimmed earlier losses late Wednesday morning as heavyweight technology shares turned higher despite an overnight slump on Wall Street.

In choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) shed 7.37 points, or 0.1 percent, to 7,264.29 as of 11:20 a.m.

Overnight, U.S. stocks extended their decline from recent record highs as rising U.S. Treasury yields and persistent inflation concerns continued to weigh on investor sentiment.

In Seoul, large-cap shares were trading mixed.

Semiconductor heavyweights Samsung Electronics and SK hynix gained 1.63 and 0.86 percent, respectively, after opening lower.

Artificial intelligence investment firm SK Square edged up 0.69 percent, while leading battery maker LG Energy Solution lost 2.88 percent.

Major shipbuilder HD Hyundai Heavy went up 5.69 percent.

The Korean won was trading at 1,506.15 won against the U.S. dollar at 11:20 a.m., up 1.65 won from the previous session.