Seoul shares turn higher late Wed. morning on tech gains

SEOUL, September 16 - Korea's stock market gained ground late Wednesday, bolstered by technology stocks amid investor uncertainty before the Federal Reserve's interest rate announcement later in the week. The Korea Composite Stock Price Index (KOSPI) rose 13.21 points, or 0.2%, to 6,640.47 by 11:20 a.m., a quarter-hour after opening 0.24% lower.

Financial institutions purchased a net 388.99 billion won ($284 million) of shares, while foreign and retail investors offloaded a net 922.78 billion won and 126.95 billion won, respectively. On the global front, U.S. equities slipped, with the Dow Jones Industrial Average dropping 0.63% and the tech-focused Nasdaq Composite falling 0.78%.

Additionally, a critical Saudi oil pipeline was incapacitated, and Yemen's Houthi rebels expanded their territorial control. Brent crude futures, a global oil benchmark, surged more than 2% to surpass $108 a barrel, and the U.S. 10-year Treasury yield exceeded 5% for the first time since July 2007, hinting at a potential Fed rate hike on Thursday.

Market leaders Samsung Electronics and SK hynix, a chip manufacturer, climbed 0.6% and 1.45%, respectively. POSCO International, a subsidiary of POSCO Group, surged 2.55%, and battery producer LG Energy Solution increased 0.68%. Among the decliners were Hyundai Motor, which fell 2.04%, and Korean Air, which dropped 1.7%. As of 11:20 a.m., the Korean won traded at 1,369.75 per U.S. dollar, a 5.15 won decrease from the previous day's close.