The Korea Times
Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street on revived hopes for peace talks after a U.S. blockade of the Strait of Hormuz. After opening 2.61 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) added 146.28 points, or 2.52 percent, to 5,954.9 in the first 15 minutes of trading. Overnight, U.S. President Donald Trump claimed that Iran had reached out to his administration on potential peace talks as the U.S. Navy began a naval blockade of the strait Monday. U.S. stocks closed higher. The Dow Jones Industrial Average rose 0.63 percent, and the Nasdaq Composite gained 1.23 percent. Over the weekend, the U.S. and Iran sat together for peace talks after agreeing to a two-week ceasefire but failed to iron out their differences on terms of the deal. Most shares started bullish. Market bellwether Samsung Electronics rose 2.74 percent, and chip giant SK hynix gained 5 percent. Top carmaker Hyundai Motor advanced 2.87 percent, and its auto parts affiliate Hyundai Mobis increased 3.32 percent. Banking giant KB Financial Group added 0.57 percent, and
Go to News Site