Seoul stocks opened higher Thursday on sustained demand for Artificial Intelligence, with the benchmark KOSPI rising 207.25 points, or 3.05 percent, to 7,004.95 as of 9:35 a.m.
Google parent Alphabet reported better-than-expected second-quarter revenue Wednesday U.S. time, driven by 82 percent growth in its cloud business. The company raised its capital expenditure forecast to meet booming AI demand.
U.S. stocks closed lower overnight as investors stayed cautious ahead of Big Tech earnings and amid escalating tensions in the Middle East. The United States launched its 12th consecutive strike against Iran, with President Donald Trump threatening to "bomb and destroy" an Iranian bridge or power plant each time Tehran strikes ships in the Strait of Hormuz.
Samsung Electronics rose 3.17 percent, SK hynix gained 4.21 percent, Hyundai Motor advanced 2.63 percent, KB Financial inched up 1.37 percent and LG Energy Solutions jumped 3.12 percent. The Korean won was quoted at 1,473.3 won against the dollar, up 4.2 won from the previous session.
