(URGENT) Seoul shares rise for 2nd day on tech gains despite renewed Mideast tensions

Seoul's stock market experienced a second day of gains on Tuesday, buoyed by strong performances in tech shares, despite growing tensions in the Middle East following renewed airstrikes between the United States and Iran. The Korea Composite Stock Price Index (KOSPI) climbed to 6,835.80, up 0.23 percent, from its opening level of 6,800.22, which had slipped 0.52 percent initially. The tech sector's rally came at the expense of oil-related stocks, with the Korean won weakening against the US dollar.

The KOSPI recovered from an early decline, driven by gains in technology firms, as investors reacted to solid export figures for South Korea's August trade, particularly in semiconductor demand. Despite Federal Reserve Chair Kevin Warsh's hawkish remarks about potential interest rate hikes, the market rebounded thanks to strong buyback programs announced by major companies such as Samsung Electronics and SK hynix.

Samsung Electronics and SK hynix led the index's gains, while external uncertainties and a net outflow of 1.59 trillion won in selling pressure from foreign, institutional, and retail investors capped the gains.