Seoul stocks closed more than 1 percent higher Wednesday on tech gains, as investors were hopeful that the U.S. Federal Reserve could ease the pace of rate increases. The Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 33.31 points, or 1.39 percent, to 2.428.57.Trading volume was moderate at 539.8 million shares worth 6.57 trillion won (US$5.4 billion), with gainers outnumbering decliners 526 to 325.Institutional and foreign investors were net buyers at a combined 793.8 billion won. Retail investors offloaded a net 792.8 billion won.