Seoul stocks opened 1.76 percent higher on Tuesday after the United States and Iran reached an agreement to reopen the Strait of Hormuz. The KOSPI rose 150.57 points to 8,696.55 at the open.
The KOSPI gained 150.57 points, or 1.76 percent, to 8,696.55 at the 9:00 a.m. open. Overnight U.S. stocks rallied after President Donald Trump said a preliminary agreement to end the conflict with Iran had been signed and the Strait of Hormuz would be completely opened on Friday.
The S&P 500 rose 1.7 percent and the Nasdaq 100 gained 3.1 percent, while the Dow Jones Industrial Average reached a record high. Brent crude fell 4.76 percent to $83.17 per barrel and U.S. WTI dropped 4.87 percent to $80.75 per barrel.
Samsung Electronics rose 1.39 percent and SK hynix advanced 3.63 percent. Hanwha Aerospace jumped 8.3 percent. The won traded at 1,517.75 won per dollar, down 5.65 won from the previous session.
