Seoul: South Korean stocks traded nearly flat late Wednesday morning as investors continued to search for momentum, including the second-quarter earnings of Nvidia, along with the upcoming U.S. rate decision. The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.21 point, or 0.01 percent, to 3,179.15 as of 11:20 a.m.
According to Yonhap News Agency, investors sat on the sidelines ahead of Nvidia's second-quarter earnings, which may offer the direction of the global artificial intelligence industry. They also waited for more clues over the U.S. rate decision amid looming concerns that the market has been overly optimistic for a cut.
In Seoul, tech shares traded mixed, with top market cap Samsung Electronics adding 0.43 percent and No. 2 chipmaker SK hynix losing 1.63 percent. South Korea's leading online portal operator Naver plunged 1.7 percent, and its rival Kakao moved down 1.85 percent.
The local currency was trading at 1,385.7 won against the U.S. dollar at 11:20 a.m., up 0.1 won from the previous session.