Seoul shares open higher amid revived AI hopes
Seoul shares opened higher Tuesday, led by gains in semiconductor stocks, amid escalating tensions in the Middle East that pushed up oil prices. After opening 0.72 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, trading 54.51 points, or 0.78 percent, up at 7,049.90 as of 9:15 a.m. The index soared by more than 4 percent in the previous session on the back…
Seoul's stock market opened higher on Tuesday, driven by gains in semiconductor stocks amid rising Middle Eastern tensions that lifted oil prices. The Korea Composite Stock Price Index (KOSPI) rose 0.78 percent to 7,049.90 after initially climbing 0.72 percent. This followed a 4 percent increase the previous day fueled by a rally in tech stocks, as renewed optimism emerged regarding artificial intelligence (AI) related earnings prospects.
The U.S. market was closed on September 7 for the Labor Day holiday. Energy prices, which have risen, are sparking inflation worries, prompting investors to watch the Federal Reserve's upcoming decision on interest rates or potential rate hold. Meanwhile, Tehran announced a forthcoming agreement with Oman to regulate shipping through the Strait of Hormuz, while cautioning that vessels may face attack off Oman's coast.
In Seoul, technology shares were the primary movers, with Samsung Electronics gaining 1.11 percent and its chip manufacturing sector leading the charge.
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.
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- (LEAD) Seoul shares open higher amid revived AI hopes en.yna.co.kr
- Seoul shares open higher amid revived AI hopes koreatimes.co.kr
