Seoul shares opened sharply higher Wednesday, tracking overnight gains on Wall Street, amid eased woes over artificial intelligence (AI) profitability and hopes for an interim agreement between the United States and Iran over the Strait of Hormuz. After opening 3.85 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) was up 299.03 points, or 4.7 percent, at 6,657.98 as of 9:15 a.m. The index rose 1.62 percent Tuesday after plunging 5.12 percent the previous day. Overnight, U.S. stocks advanced as investors bet that a possible agreement to reopen the crucial shipping route could extend the recent decline in oil prices and ease inflationary pressures. Also, strong earnings reports from key firms, such as enterprise software firm Palantir Technologies, helped ease woes over massive investment into the AI sector by major tech firms. The Dow Jones Industrial Average rose 1.71 percent to 54,085.88, while the tech-heavy Nasdaq Composite climbed 2.59 percent to 26,584.99. In Seoul, tech stocks led the gains. Market bellwether Samsung Electronics jumped 4.38 percent, and its chip
US stocks: Dow, S&P 500 close at record on AI-linked earnings, Middle East deal hopes