Seoul: South Korean stocks traded nearly 1 percent higher late Thursday morning, driven by strong gains in semiconductor shares following Nvidia's overnight rally on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) added 31.15 points, or 0.99 percent, to reach 3,164.89 as of 11:20 a.m.

According to Yonhap News Agency, in the U.S. market, artificial intelligence chip giant Nvidia reached a milestone by becoming the world's first company to hit a market value of US$4 trillion. This achievement pushed the tech-heavy Nasdaq to an all-time high, influencing global markets including Seoul.

In the South Korean market, Samsung Electronics, the world's largest memory chipmaker, experienced a rise of 0.83 percent. Meanwhile, SK hynix, a key supplier to Nvidia, saw a more significant increase of 3.74 percent. Other sectors also showed positive movement, with major shipbuilder Hanwha Ocean advancing by 1.92 percent, and biotech firm Samsung Biologics jumping 5.5 percent.

Additional gains were observed in other industries, as food giant Nongshim added 0.63 percent, and entertainment company CJ ENM gained 0.72 percent. The local currency also strengthened, trading at 1,372.45 won against the U.S. dollar, up 2.55 won from the previous session.