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Kospi opens at new high over 6,700 on eased Iran war tensions

Published: 04 May. 2026, 09:58 Updated: 04 May. 2026, 16:58

LEE JIAN
[email protected]

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 4. [NEWS1]

Korean stocks opened at yet another fresh high of over 6,700 on Monday.

The index recorded at 6,782.93, up 184.06 points, or 2.79 percent, upon opening, instantly breaking the previous all-time intraday high of 6,750.27 set a day before, on Thursday.

By 9:06 a.m., it had pulled back slightly to 6,741.63, still up 2.16 percent on the day.

The index had risen for three straight sessions to close at an all-time high of 6,690.90 on Thursday but fell 1.38 percent to 6,598.87 on Friday.

The Kospi rally comes as U.S. President Donald Trump on Sunday evening said that the United States would start a project to aid ships that have been locked up in the key shipping route as a "humanitarian gesture" to aid neutral countries in the U.S.-Israeli war with Iran.

“The Ship movement is merely meant to free up people, companies, and Countries that have done absolutely nothing wrong — They are victims of circumstance,” Trump posted on his Truth Social platform. He added that the U.S. representatives have been having “very positive discussions” with Iranian officials about formally ending the hostilities between the United States and Iran.

Iran has been blocking nearly all shipping from the Persian Gulf for more than two months, while the U.S. imposed its own blockade of ships from Iranian ports last month.

Samsung Electronics rose 2.49 percent to 226,000 won and SK hynix gained 4.35 percent to 1,342,000 won. Hyundai Motor was up 1.13 percent and SK Square surged 8.56 percent.

The Kosdaq also rose, gaining 2.08 percent to 1,217.13 after opening up 1.67 percent at 1,212.28.

BY LEE JIAN, YONHAP [[email protected]]