(LEAD) Seoul stocks turn higher after weak start ahead of Nvidia earnings

SEOUL, Aug. 26 (Yonhap) -- Seoul stocks turned higher on Wednesday, rebounding from a weak start, thanks to gains in chipmakers as investors awaited the earnings release from U.S. chip giant Nvidia. The Korea Composite Stock Price index (KOSPI) rose 61 points, or 0.9 percent, to 6,803.74 by 9:15 a.m.

On the other side of the Pacific, major stock indexes in the United States closed higher, driven by a rebound in the chip sector, and a decline in global oil prices and U.S. Treasury yields provided a sense of relief to investors. The tech-focused Nasdaq index rose by 0.66 percent, while the S&P 500 gained 0.32 percent.

Investors are keenly watching Nvidia's upcoming earnings announcement, as the outcome could impact not just the company's share price but also the valuation of the artificial intelligence (AI) sector as a whole. Samsung Electronics experienced a 2.14 percent increase, while its competitor SK hynix climbed 1.85 percent.

However, some sectors faced a downturn. Hyundai Motor's shares fell 0.24 percent, battery manufacturer LG Energy Solution dropped 1.29 percent, and defense company Hanwha Aerospace dropped even more sharply, 3.54 percent. The South Korean won appreciated slightly against the US dollar, trading at 1,382.4 won, a 0.3-won increase from the previous trading session.