Seoul:South Korean stocks reduced their earlier gains late Wednesday morning as investors sought to capitalize on recent profits, following a strong start to the session.

According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) opened 1.94 percent higher and added 5.96 points, or 0.08 percent, reaching 7,023.87 by 11:20 a.m. This increase was driven by gains in technology heavyweights, aligned with the Nasdaq Composite's consecutive record closings. The KOSPI had risen for three consecutive sessions prior to this.

Market performance was mixed among major stocks. Samsung Electronics, the top market cap, rose by 1.9 percent, while chip manufacturer SK hynix saw a minor gain of 0.11 percent. SK Square, SK hynix's parent company, advanced by 2.84 percent, whereas Samsung Electro-Mechanics, affiliated with Samsung Electronics, experienced a decline of 0.74 percent.

The Korean won appreciated against the U.S. dollar, trading at 1,352.6 won as of 11:20 a.m., an increase of 3.9 won from the previous session's close.