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Kospi opens sharply higher on hopes of easing tensions in Middle East

Published: 24 Mar. 2026, 09:39

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 24. [YONHAP]

Shares opened sharply higher Tuesday, as investors pinned hopes on easing military tensions in the Middle East.

After opening 4.25 percent higher, the benchmark Kospi jumped 196.33 points, or 3.63 percent, to 5,602.08, in the first 15 minutes of trading.

The index plunged more than 6 percent in the previous session.

Overnight, major stock indexes on Wall Street closed over 1 percent higher, after U.S. President Donald Trump said the United States and Iran held talks, and that he ordered the postponement of strikes against Iranian power plants and energy infrastructure for five days.

The development gave investors hope that the turmoil in the Middle East might end soon and soaring oil prices could stabilize.

Brent crude oil, the international standard, fell by more than 10 percent in the previous session, following Trump's announcement.

In Seoul, most market heavyweights were trading higher.

Samsung Electronics rose 3.76 percent, while its chipmaking rival SK hynix added 6 percent.

Top carmaker Hyundai Motor strengthened 3.04 percent, defense giant Hanwha Aerospace advanced 1.64 percent, and major financial group KB Financial moved up 1.72 percent.

The local currency strengthened 21.8 won to trade at 1,495.5 against the dollar as of 9:15 a.m., after trading at a 17-year low the previous session.

Yonhap