Seoul shares open 3.3% higher on tech gains

Seoul shares opened 3.3% higher Thursday as investors bought bargain-priced chip stocks, with Samsung Electronics up 3.06% and SK hynix climbing 6.79%. The gains followed a steep sell-off, though concerns remain over US-Iran tensions and uncertainty in AI trade.

Seoul shares opened 3.3 percent higher Thursday as investors scooped up bargain-priced chip stocks following the previous session's steep sell-off. The benchmark Korea Composite Stock Price Index KOSPI rose 243.11 points, or 3.3 percent, to 7,489.90 at the opening bell. Overnight, U.S. stocks ended mixed. The Dow Jones Industrial Average fell 1.09 percent, while the tech-heavy Nasdaq Composite rose 0.2 percent. Investors, overall, remain concerned about renewed tensions between the United States and Iran, as well as uncertainty over the next phase of artificial intelligence AI trade. Market bellwether Samsung Electronics rose 3.06 percent, while chip giant SK hynix climbed 6.79 percent.