South Korean stocks opened slightly higher Tuesday, tracking Wall Street gains as easing tensions in the Middle East boosted investor sentiment.
The benchmark Korea Composite Stock Price Index gained 57.13 points, or 0.68 percent, to 8,451.78 as of 9:15 a.m.
Investor sentiment improved after the United States and Iran were set to resume talks in Qatar aimed at easing tensions in the Strait of Hormuz. This alleviated concerns over a prolonged disruption to global oil supplies.
Wall Street rebounded sharply overnight as investors returned to technology stocks. The Dow Jones Industrial Average gained 0.59 percent to close at a record high, while the Nasdaq Composite jumped 2.07 percent and the S&P 500 advanced 1.18 percent.
Samsung Electronics rose 2.32 percent and SK hynix edged up 0.42 percent. The two companies announced major long-term investment plans on Monday to accelerate construction of new semiconductor fabs in Gyeonggi Province and build additional production facilities in the country's southwest. The Korean won was trading at 1,547.55 won against the U.S. dollar, down 2.35 won.
