Seoul stocks surged on Wednesday, driven by gains in the technology sector and anticipation of potential interest rate cuts by the US Federal Reserve. The Korea Composite Stock Price Index rose by 1.19 percent to close at 2,770.69, with trade volume reaching 543.14 million shares valued at 11.84 trillion won. Both institutional and foreign investors bought a combined 202 billion won worth of stocks, offsetting individual selling valued at 180 billion won. The local currency, the Korean won, also strengthened against the US dollar. The positive performance was attributed to strong earnings results from Samsung Electronics and a global uptick in tech stocks. Analysts highlighted the upcoming Fed policy decision and the earnings reports of major tech companies like Apple and Amazon as key factors to watch. With expectations of a potential rate cut by the Fed in September due to subdued inflation, tech stocks led the gains in Seoul, with Samsung Electronics, SK hynix Inc., and other firms recording notable increases. However, some sectors such as automotive and steel saw declines in stock prices. At the same time, the Korean won appreciated against the US dollar, reaching 1,376.5 won by late afternoon.