Seoul shares open sharply higher on tech gains despite heightened Middle East tensions
Korean stocks started sharply higher Monday, driven by gains in tech shares, despite heightened military tensions in the Middle East. The benchmark Korea Composite Stock Price Index (KOSPI) rose 223.57 points, or 3.34 percent, to 6,910.78 at the opening bell. Overnight, military attacks intensified between the United States and Iran. Tehran said it targeted three oil tankers using an unauthorized…
Korean stocks began the trading day sharply higher on Monday, with the benchmark KOSPI surging 223.57 points, or 3.34 percent, to close at 6,910.78 at the opening bell. The positive sentiment was fueled by strong gains in tech shares, despite rising tensions in the Middle East. Military attacks intensified overnight between the United States and Iran, with Tehran striking three oil tankers and several U.S.-linked vessels in the Strait of Hormuz, in retaliation for U.S. strikes on Iranian tankers.
The previous day, U.S. stocks had closed lower due to robust job data, which suggested potential Federal Reserve rate hikes. However, this was overshadowed by the performance of the PHLX semiconductor index, which rose 3.38 percent following the release of OpenAI's new GPT-6 Astra. The advanced AI model was expected to spur demand for memory chips, further boosting the tech sector.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
