Seoul shares edge up late Wed. morning on U.S. stock gains

South Korean stocks edged up late Wednesday morning, tracking overnight Wall Street gains driven by megacap tech stocks. The benchmark Korea Composite Stock Price Index had risen 7.13 points, or 0.27 percent, to 2,688.94 as of 11:20 a.m. Overnight, Wall Street logged strong gains as investors shored up Nvidia, Oracle and other big tech stocks despite higher-than-expected February consumer price data. The Dow Jones Industrial Average rose 0.61 percent, and the S and P 500 gained 1.12 percent. The Nasdaq Composite added 1.54 percent. In Seoul, tech and financial shares advanced, with Samsung Electronics adding 0.68 percent and KB Financial surging 6.28 percent. Auto and chemical stocks also gained momentum, with Hyundai Motor rising 0.21 percent and LG Chem adding 1.66 percent. Battery-related shares, however, lost ground as investors took profit from strong gains in the previous session. LG Energy Solution shed 0.48 percent. The local currency was trading at 1,312.40 won against the U.S. dollar, down 1 .40 won from the previous session's close. Source: Yonhap News Agency