South Korean stocks surged over 1.5% at Tuesday’s open, mirroring robust overnight gains on Wall Street. This significant uplift in the **Korean stock market** was primarily driven by positive investor sentiment following a preliminary agreement between the United States and Iran to reopen the crucial Strait of Hormuz, a key development for **global markets**.
The benchmark **Korea Composite Stock Price Index (KOSPI)** climbed 149.68 points, or 1.75%, reaching 8,695.66 by 9:25 a.m. local time, reflecting widespread optimism among **South Korean investors**.
The positive momentum extended from overnight trading in the **United States stock market**, where major indices rallied strongly. This followed an announcement by US President Donald Trump regarding a preliminary agreement with Iran aimed at resolving conflicts and ensuring the ‘complete opening’ of the Strait of Hormuz by Friday.
On Wall Street, the **S&P 500 index** advanced 1.7%, while the technology-focused **Nasdaq 100** surged an impressive 3.1%. The **Dow Jones Industrial Average** also reached a new record high, signaling broad-based market strength across **US equities**.
In a related development, **global oil prices** experienced a significant retreat, further bolstering market confidence. Brent crude declined 4.76% to $83.17 per barrel, and US West Texas Intermediate (WTI) saw a 4.87% drop to $80.75 per barrel. This notable decrease in **crude oil prices** helped to alleviate persistent concerns about inflation, positively impacting **market outlooks**.
Back in Seoul, trading presented a mixed picture across various sectors, even amidst the overall market rally.
Among the market’s heavyweights, tech and financial stocks largely performed well. Industry leader **Samsung Electronics** saw its shares rise by 1.39%, while rival chipmaker **SK Hynix** surged 3.63%. The defense sector also showed strength, with **Hanhwa Aerospace** jumping an impressive 8.3%. Financial giant **KB Financial** also posted solid gains, increasing 4.78%.
However, not all sectors participated in the rally. **Samsung Electro-Mechanics** experienced a slight dip of 0.9%, and leading automaker **Hyundai Motor** also saw a decline, down 1.08%.
