Seoul: South Korean stocks traded higher late Wednesday morning as investors welcomed U.S. President Donald Trump's better-than-feared actions on his first day in office. The benchmark Korea Composite Stock Price Index (KOSPI) gained 18.66 points, or 0.74 percent, to 2,536.69 as of 11:20 a.m.

According to Yonhap News Agency, after the inauguration ceremony, Trump rolled out executive orders and comments about trade deals and tariffs, giving hopes new tariffs may not be as bad as feared. In Seoul, market heavyweights gained ground. Chip giant SK hynix rose 2.29 percent, and top carmaker Hyundai Motor added 0.48 percent. SK Innovation, the No. 1 oil refiner, advanced 2.89 percent, and leading retailer Lotte Shopping went up 0.56 percent.

However, top-cap Samsung Electronics fell 0.56 percent, and Hybe, a record label behind global superstar BTS, dropped 0.69 percent. The local currency was trading at 1,435.9 won against the greenback at 11:20 a.m., up 3.6 won from the previous session.