Seoul stocks surge on tech rally ahead of U.S. earnings; KOSPI breaks 6,700

SEOUL, April 28 (Yonhap) -- Seoul stocks were trading sharply higher late Tuesday morning, as investors snapped up major tech shares ahead of earnings releases from major U.S. tech companies. The benchmark Korea Composite Stock Price Index (KOSPI) rose 58.65 points, or 0.89 percent, to 6,673.68 as of 11:20 a.m. After opening slightly higher, the index once topped the 6,700-point mark. Overnight, stock indexes on Wall Street closed mixed, as investors sat on the sidelines while closely following developments in peace talks between the United States and Iran. U.S. President Donald Trump is expected to hold a meeting with national security officials regarding stalled peace talks with Iran, while Iran's foreign minister met with Russian President Vladimir Putin on a diplomatic trip. In Seoul, most large caps were trading higher. Market top-cap Samsung Electronics fell 0.67 percent, while its chipmaking rival SK hynix added 1.86 percent. Top car maker Hyundai Motor vaulted 7.44 percent, battery maker LG Energy Solution inched up 0.54 percent, while defense giant Hanwha Aerospace declined 1.51 percent. The local currency was trading at 1,474.6 won against the U.S. dollar as of 11:20 a.m., down 2.1 won from the previous session's close.