South Korean stocks turned higher late Thursday morning as chip giants rose on optimism for an industry turnaround.
The benchmark Korea Composite Stock Price Index (KOSPI) had added 21.02 points, or 0.81 percent, to 2,613.83 as of 11:20 a.m.
The index opened lower and moved within a tight range before turning higher on retail buying, as investors digested the Federal Reserve's interest rate decision.
On Wednesday (U.S. time), the Fed raised interest rates by a much-anticipated quarter of a percentage point, and Chair Jerome Powell suggested a further increase at the September meeting depending on data.
In Seoul, chipmakers gathered ground to lead the upturn of the index.
Market bellwether Samsung Electronics jumped 2.15 percent, as it reported a 95 percent fall in second-quarter operating profit amid optimism for a turnaround in the second half.
SK hynix surged 7.7 percent on bargain hunting.
But battery and steel shares traded sharply lower following recent rallies.
Leading battery maker LG Energy Solution fell 5.52 percent, and LG Chem shed 5.36 percent. Samsung SDI retreated 4.55 percent.
POSCO Holdings skidded 3.17 percent, and POSCO Future M sank 6.61 percent.
Carmakers traded mixed, with top automaker Hyundai Motor losing 0.81 percent, while Kia added 0.24 percent.
Among gainers, major bio firm Samsung Biologics soared 7.7 percent, and internet giant Naver jumped 4.2 percent.
The local currency was changing hands at 1,269.6 won against the U.S. dollar as of 11:20 a.m., up 4.9 won from the previous session's close.
Source: Yonhap News Agency