Seoul: South Korean stocks traded nearly flat late Tuesday morning, led by declines in chips and information technology (IT) shares. The benchmark Korea Composite Stock Price Index (KOSPI) had inched down 0.45 points, or 0.01 percent, to 3,420.76 as of 11:20 a.m.
According to Yonhap News Agency, the KOSPI opened higher, following an overnight rise on Wall Street pushed by a rebound in artificial intelligence (AI)-related stocks. Investors are awaiting the nonfarm payrolls report from the United States due on Friday, a key piece of data for clues to the Federal Reserve's next policy decision.
Large-cap shares were trading mixed. Top-cap Samsung Electronics slid 0.24 percent, while its rival SK hynix advanced 0.14 percent. Defense giant Hanwha Aerospace rose 3.12 percent, top automaker Hyundai Motor inched up 0.23 percent, and battery maker LG Energy Solution went up 0.28 percent. IT shares lost ground, with major portal operator Naver shedding 2 percent and messenger app operator Kakao falling 0.33 percent.
The local currency had been trading at 1,403.2 won against the greenback as of 11:20 a.m., down 4.5 won from the previous session's close.