South Korea's stock index futures rose on Wednesday, and the Kospi was seen opening higher after overnight gains in U.S. semiconductors and memory stocks. According to Sina Finance, the Kospi fell late on Tuesday, and before South Korea's market holiday on Thursday it would need to hold early gains on heavier volume to confirm that the initial rebound is sustainable.

Micron and SanDisk ranked among the top three contributors to gains in the S&P 500 on a tech-led trading day. The benchmark index finished flat, but the Philadelphia Semiconductor Index rose more than 2%, while the memory chip sector gained 4.3% overall.

South Korea's stock index futures moved higher, and domestic memory chip giants were expected to follow. Nasdaq 100 futures also rose in early Wednesday trading, while WTI crude oil futures fell further. With South Korea heading into a holiday and Micron Technology set to report earnings next week, offshore accounts remained at low levels after heavy selling over the past few weeks and were preparing to rebuild positions before the end of the quarter.