Seoul:Stocks in Seoul climbed higher on Wednesday, buoyed by gains in U.S. semiconductor shares, although the rise in U.S. Treasury yields dampened investor sentiment.

According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) increased by 80.46 points, or 1.17 percent, reaching 6,951.27 at 9:15 a.m. This rise followed overnight U.S. stock market performance, where semiconductor shares showed strength despite broader market declines.

The U.S. markets saw a slight dip, with the S&P 500 dropping 0.17 percent, the Dow Jones Industrial Average falling 0.26 percent, and the Nasdaq composite edging down 0.09 percent. Still, the Philadelphia Semiconductor Index rose 1.32 percent, which positively impacted South Korean semiconductor companies such as Samsung Electronics and SK hynix.

Samsung Electronics, a key player in the market, saw its shares rise by 1.1 percent, while SK hynix experienced a gain of 2.32 percent. Additionally, SK Square, the parent company of SK hynix, increased by 2.33 percent, and Samsung Electro-Mechanics, an affiliate of Samsung Electronics, rose by 1.51 percent.

In the currency market, the Korean won was trading at 1,351 against the U.S. dollar, marking an increase of 3 won from the previous session's close.