SEOUL, Oct. 27 (Yonhap) -- South Korean stocks traded higher late Tuesday morning, led by gains in technology shares, as renewed optimism over artificial intelligence (AI) and falling oil prices boosted risk appetite.
After opening 3.46 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended its earlier gains to trade up 213.1 points, or 3.9 percent, to 5,682.6 as of 11:20 a.m.
Amid a rally driven by foreign buying, the Korea Exchange activated a buy-side sidecar at 10:13 a.m., suspending buy orders in program trading for KOSPI-listed shares for five minutes.
The measure is triggered when KOSPI 200 futures rise at least 5 percent and remain at that level for one minute or longer.
Overnight, the Dow Jones Industrial Average gained 0.28 percent, while the S&P 500 advanced 0.7 percent and the tech-heavy Nasdaq Composite climbed 0.82 percent.
Investor sentiment improved after AI startup Anthropic disclosed strong revenue growth in its U.S. initial public offering (IPO) filing, reigniting enthusiasm for AI-related stocks ahead of major tech earnings and the Federal Reserve's interest rate decision.
Oil prices also retreated on hopes of easing tensions in the Middle East, following reports of Qatari mediation efforts involving Iran and the United States.
KOSPI heavyweights rose across the board.
Market bellwether Samsung Electronics gained 4.69 percent, and chip giant SK hynix increased 6.59 percent.
SK Square, the parent firm of SK hynix, jumped 10.79 percent, and Samsung Electro-Mechanics, an electronics component affiliate of Samsung Electronics, surged 7.78 percent.
The Korean won was trading at 1,323.2 won against the U.S. dollar at 11:20 a.m., up 2.8 won from the close of the previous stock trading session.
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