Seoul shares extend gains late Wed. morning

South Korean shares traded sharply up late Wednesday morning, buoyed by gains in financial shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 28.73 points, or 1.08 percent, to 2,684.90 as of 11:20 a.m. The KOSPI had opened higher tracking overnight gains on Wall Street. The Dow Jones Industrial Average closed 0.83 percent higher ahead of the conclusion of the two-day U.S. Federal Open Market Committee meeting on Wednesday (U.S. time). In Seoul, large caps traded mixed while financial shares were sharply up. Market kingpin Samsung Electronics spiked 5.08 percent, but No. 2 chipmaker SK hynix was down 3.12 percent. Top battery maker LG Energy Solution gained 0.87 percent, while its local rival Samsung SDI advanced 1.88 percent. Lead carmaker Hyundai Motor climbed 0.21 percent, with its smaller affiliate Kia Motors slipping 3.03 percent. KB Financial soared 1.66 percent, with Shinhan Financial and Hana Financial surging 2.72 percent and 2.28 percent, respectively. The local currency was trading at 1,338.10 won against the U.S. dollar, up 1.70 won from the previous session's close. Source: Yonhap News Agency