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Kospi opens higher amid oil price swings

Published: 11 Mar. 2026, 09:48

LIM JEONG-WON
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A screen in Hana Bank's trading room in central Seoul shows the Kospi in the morning hours of March 11. [NEWS1]

Korean stocks started higher Wednesday as investors continued to hunt for bargains despite volatility in global oil prices in the wake of the Middle East crisis.

The Kospi rose 154.83 points, or 2.8 percent, to 5,687.42 as of 9:15 a.m. The index rebounded 5.35 percent Tuesday.

U.S. President Donald Trump said in a social media post that Iran will face "military consequences" at a level "never seen before" if it has laid any mines in the Strait of Hormuz.

In another post, Trump claimed the United States had "completely destroyed" 10 inactive mine-laying ships, with "more to follow."

Located south of Iran, the key waterway accounts for roughly 20 percent of global oil and gas shipments.

Top tech giant Samsung Electronics moved up 2.66 percent, and SK hynix added 1.81 percent.

Leading battery maker LG Energy Solution gained 2.32 percent, and its rival Samsung SDI climbed 2.73 percent.

Carmakers opened higher, with industry leader Hyundai Motor rising 4 percent and its sister Kia adding 4.53 percent.

Pharmaceuticals started stronger as well, with Samsung Biologics advancing 4.21 percent and Celltrion increasing 2.91 percent.

The won strengthened by 1 won from the previous session to trade at 1,468.3 against the dollar as of 9:15 a.m.

Yonhap