Seoul: South Korean stocks climbed to a new high for the second consecutive session Tuesday as investors scooped up tech shares amid improved sentiment for the global chip industry. The local currency traded flat against the U.S. dollar.

According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) shot up 17.54 points, or 0.51 percent, to close at 3,486.19. Trade volume was moderate at 350 million shares worth 11.9 trillion won (US$8.54 billion), with losers outnumbering gainers 598 to 269.

Foreign investors purchased a net 303 billion won worth of local shares, while individual investors divested a net 244 billion won. Institutional investors offloaded a net 136.3 billion won.

Tech shares led the overall growth following Nvidia's announcement of its plan to invest up to US$100 billion in OpenAI to construct AI data centers. "Samsung Electronics and SK hynix account for the most part of the gains on the main bourse, led by the news reports on the partnership between Nvidia and OpenAI," said Seo Sang-young, an analyst at Mirae Asset and Securities.

Shares of Samsung Electronics increased by 1.44 percent to 84,700 won, with the company briefly surpassing the 90,000 won mark during the pre-market session. SK hynix saw a rise of 2.85 percent to 361,000 won.

HD Hyundai Electric experienced a climb of 1.54 percent to 594,000 won, with other electric device companies also advancing on hopes from Nvidia's new investment plan. Pharmaceutical companies were among the gainers, with Samsung Biologics rising 0.97 percent to 1,036,000 won, and Celltrion soaring 8.93 percent to 184,200 won.

The local currency was quoted at 1,391.0 won against the greenback at 3:30 p.m., remaining unchanged from the previous session.