Seoul: South Korean shares traded more than 2 percent higher late Tuesday morning as market sentiment was lifted by easing crude prices and the strong performance of blue chip tech shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 140.51 points, or 2.53 percent, to 5,690.36 as of 11:20 a.m.

According to Yonhap News Agency, the KOSPI's rise was in line with overnight gains on Wall Street boosted by a drop in global oil prices. This decline came amid expectations for the possible reopening of the Strait of Hormuz, a key Middle Eastern oil export route, and hopes for an additional plan for oil releases by major economies. Brent crude oil prices, the international oil benchmark, dropped 2.8 percent to US$100.21 per barrel, while the price of U.S. benchmark West Texas Intermediate (WTI) dipped 5.3 percent to $93.5.

In Seoul, market top-cap Samsung Electronics jumped 4.13 percent, and its chipmaking rival SK hynix advanced 2.41 percent. Auto giant Hyundai Motor surged 4.35 percent on news of its expanding partnership with U.S. tech giant Nvidia in the future mobility sector. Its sister company Kia soared 3.15 percent, and its auto parts-making affiliate, Hyundai Mobis, increased 2.74 percent.

Artificial intelligence (AI) investment firm SK Square shot up 7.65 percent, and leading battery maker LG Energy Solution added 1.78 percent. Financial shares also gained ground, with KB Financial up 1.07 percent and Shinhan Financial rising 1 percent. Major defense firm Hanwha Aerospace was among the few decliners, losing 5.62 percent.

The Korean won was trading at 1,492.3 won against the U.S. dollar at 11:20 a.m., up 5.2 won from the previous session.