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Seoul shares open higher Wednesday, with KOSPI up 0.93% to 7,019.5, driven by chip gains despite Middle East tensions
South Korean shares opened 0.26% higher, with the benchmark Korea Composite Stock Price Index (KOSPI) extending gains to trade 65.98 points, or 0.93%, higher at 7,019.5 as of 9:15 a.m. The rise was attributed to gains in major chipmakers, which offset lingering concerns over escalating tensions in the Middle East and rising oil prices. Overnight, US stocks ended lower due to heightened Middle East tensions and rising oil prices, though the Philadelphia Semiconductor Index gained 1.3%.
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