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Techs drive KOSPI higher late Tuesday morning

South Korean shares traded sharply higher Tuesday, boosted by technology stocks as investors displayed optimism over third-quarter earnings.

The benchmark Korea Composite Stock Price Index gained 46.54 points, or 1.94 percent, to 2,441.01 as of 11:20 a.m.


Top cap Samsung Electronics, scheduled to release its third-quarter earnings guidance later this week, jumped 4.45 percent, and global chipmaker SK hynix soared 8.08 percent.

Top automaker Hyundai Motor rose 0.66 percent, and its smaller affiliate Kia Motors traded 1.1 percent higher.

POSCO, the No.1 steelmaker, advanced 1.11 percent.

Naver, the operator of the country's top Internet portal, rose 1.88 percent.

The local currency was trading at 1,138.45 won against the US dollar, up 6.95 won from the previous session's close. (Yonhap)



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