Seoul stocks turn higher after weak start ahead of Nvidia earnings

Seoul's stock market showed a positive shift on Wednesday, recovering from a sluggish opening due to a rise in chipmakers' performance ahead of Nvidia's earnings announcement. The Korea Composite Stock Price Index (KOSPI) rose by 61 points, or 0.9 percent, reaching 6,803.74 as of 9:15 a.m. The tech-focused Nasdaq and S&P 500 indices on Wall Street also saw gains, closing 0.66 percent and 0.32 percent higher respectively.

This market rally was partly attributed to a decline in global oil prices and lower U.S. Treasury yields, providing some relief to investors. Nvidia, a key player in the artificial intelligence (AI) industry, is set to release its earnings report, which could have a significant impact on the company's share price and the wider AI sector's valuation.

While some market caps were trading near their top limits, others were mixed. Samsung Electronics rose by 2.14 percent, while its counterpart SK hynix increased by 1.85 percent. However, car manufacturer Hyundai Motor fell by 0.24 percent, battery producer LG Energy Solution dropped by 1.29 percent, and defense firm Hanwha Aerospace decreased by 3.54 percent.

The Korean won strengthened against the U.S. dollar, trading at 1,382.4 won, a 0.3 win increase from the previous session.