Home > Business > Finance

Kospi opens higher amid oil price hike

Published: 16 Mar. 2026, 10:05

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 16. [NEWS1]

Shares started higher Monday on strong gains in tech shares despite a jump in global crude prices sparked by U.S. airstrikes on Iran's main export hub.

The Kospi rose 58.31 points, or 1.06 percent, to 5,545.55 in the first 15 minutes of trading.

The Kospi's rise came despite a drop in major U.S. stock indexes last week amid escalating turmoil in the Middle East.

On Friday, the Dow Jones Industrial Average fell 0.26 percent, while tech-heavy Nasdaq composite dipped 0.98 percent, and the S&P 500 lost 0.61 percent.

Brent crude oil prices, the international oil benchmark, surpassed $103 per barrel last week, while the U.S. benchmark West Texas Intermediate reached $98.71 after the United States bombed military targets on Kharg Island, a key terminal that handles almost all of Iran's oil exports.

In Seoul, tech behemoth Samsung Electronics started 2.18 percent higher, with its chipmaking rival SK hynix jumping 3.19 percent.

Defense Giant Hanwha Aerospace gained 1.28 percent, and power plant manufacturer Doosan Enerbility went up 1.88 percent.

AI investment firm SK Square increased 2.06 percent, and Mirae Asset Securities soared 4.05 percent.

On the other hand, Hyundai Motor kicked off 0.77 percent lower, and major shipbuilder HD Hyundai Heavy Industries lost 1.34 percent.

The won weakened by 0.6 won from the previous session to trade at 1,494.3 won against the dollar as of 9:15 a.m.

The won opened at 1,501 won, marking the first time it had pierced the 1,500-won threshold since 2009.

The last time the won crossed the 1,500-per-dollar level during daytime trading was on March 12, 2009, in the middle of the global financial crisis. Global markets were in turmoil after major U.S. financial institutions collapsed, and investors rushed to buy safe-haven assets such as the dollar.

As money flowed out of emerging markets, including Korea, the won weakened sharply, falling to one of its lowest levels during the crisis.

BY JEONG HYE-JEONG, YONHAP [[email protected]]