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Kospi opens sharply higher on tech boost

Published: 18 Mar. 2026, 10:01

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 18. [NEWS1]

Shares kicked off nearly 3 percent higher Wednesday, driven by sharp gains in blue chip tech shares, despite continuing uncertainties in the Middle East.

The Kospi jumped 162.04 points, or 2.87 percent, to 5,802.52 in the first 15 minutes of trading.

Overnight, major U.S. indexes closed higher for the second straight session despite a rebound in global oil prices. The Dow Jones Industrial Average edged up 0.1 percent, while the tech-heavy Nasdaq composite rose 0.5 percent and the S&P 500 gained 0.2 percent.

Investors' eyes are on the situation in the Middle East amid hopes for the possible reopening of the Strait of Hormuz, a key global oil export route, and the two-day U.S. Federal Open Market Committee meeting this week for a rate decision.

In Seoul, most top-cap shares opened in positive territory as tech shares continued their strong momentum fueled by expectations for robust chip sector performance.

Market top-cap Samsung Electronics surged 4.44 percent, and its chipmaking rival SK hynix soared 3.71 percent.

The two companies were at the center of attention at U.S. chip giant Nvidia's annual tech conference held Tuesday, which boosted expectations for continued growth of the AI sector.

Auto giant Hyundai Motor climbed 2.3 percent, and its sister Kia advanced 2.21 percent.

AI investment firm SK Square shot up 5.45 percent, while power plant manufacturer Doosan Enerbility expanded 2.59 percent.

Trading firm Samsung C&T jumped 5.1 percent, and Samsung Life Insurance escalated 8.53 percent.

Major defense firm Hanwha Aerospace was among the few decliners, losing 1.58 percent.

The won strengthened 6.6 won from the previous session to trade at 1,487 won against the dollar at 9:15 a.m.

Yonhap