Seoul stocks open at new high amid US ceasefire extension with Iran

Korean stocks opened at a record high Thursday, with the benchmark index approaching the 6,500-point level, driven by large-cap tech gains and the United States' indefinite extension of its ceasefire in the conflict with Iran. The benchmark Korea Composite Stock Price Index (KOSPI) opened at 6,488.83, up 70.9 points, or 1.1 percent, from the previous session's close. The gains came after U.S. President Donald Trump announced a decision to extend a two-week ceasefire with Iran indefinitely, following stalled peace talks aimed at ending the conflict. Overnight, U.S. stocks closed higher, supported by strong corporate earnings. The S&P 500 rose 1.05 percent, and the Nasdaq Composite climbed 1.64 percent, with both indices finishing at record closing highs. The Dow Jones Industrial Average gained 0.69 percent.

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