Kospi opens higher on Wall Street gains, renewed AI optimism

Stocks opened higher Tuesday, tracking overnight gains on Wall Street, as renewed optimism over AI and easing oil prices lifted investor sentiment.

The Kospi rose 189.18 points, or 3.46 percent, to 5,658.65 at the opening bell.

Overnight, the Dow Jones Industrial Average gained 0.28 percent, while the S&P 500 advanced 0.7 percent and the tech-heavy Nasdaq Composite climbed 0.82 percent.

Investor sentiment improved after AI startup Anthropic disclosed strong revenue growth in its U.S. initial public offering filing, reigniting enthusiasm for AI-related stocks ahead of major tech earnings and the Federal Reserve's interest rate decision.

Oil prices also retreated on hopes of easing tensions in the Middle East, following reports of Qatari mediation efforts involving Iran and the United States.

Yonhap