Seoul shares edge up late Tue. morning on Wall Street gains

The benchmark KOSPI is displayed at a dealing room in Hana Bank in Seoul, Tuesday. Yonhap

Korean stocks traded slightly higher late Tuesday morning, tracking overnight gains on Wall Street as easing tensions in the Middle East boosted investor appetite.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.97 points, or 0.11 percent, to 8,403.62 as of 11:20 a.m., after opening 0.68 percent higher.

Investor sentiment improved after the United States and Iran were set to resume talks in Qatar aimed at easing tensions in the Strait of Hormuz, alleviating concerns over a prolonged disruption to global oil supplies.

Overnight, Wall Street rebounded sharply as investors returned to tech stocks.

The Dow Jones Industrial Average gained 0.59 percent to close at a record high, while the Nasdaq composite jumped 2.07 percent and the S&P 500 advanced 1.18 percent.

Crude prices rose modestly as investors monitored implementation of the U.S.-Iran peace framework.

Tech shares were mixed.

Top market cap Samsung Electronics rose 1.86 percent, while chip giant SK hynix slipped 0.27 percent.

The two companies on Monday announced major long-term investment plans to accelerate construction of new semiconductor fabs in Gyeonggi Province and build additional production facilities in the country's southwest.

Battery shares lost ground on profit-taking after sharp gains the previous session.

LG Energy Solution retreated 8.24 percent, and its smaller rival Samsung SDI fell 3.12 percent.

The Korean won was trading at 1,549.15 won against the U.S. dollar at 11:20 a.m., down 3.95 won from the previous session.