Seoul: Seoul shares opened lower Monday as investors remained cautious amid increased Iran uncertainty despite SK hynix's successful U.S. listing last week. The benchmark Korea Composite Stock Price Index (KOSPI) rose 63.91 points, or 0.85 percent, to 7,412.03 at the opening bell.
According to Yonhap News Agency, on Friday, U.S. stocks closed higher despite renewed tension in the Middle East, buoyed by South Korean chipmaker SK hynix's multibillion-dollar U.S. share offering. SK hynix's American depositary receipts (ADRs) on the Nasdaq closed at US$168 each, well above the offering price of $149.
The Dow Jones Industrial Average gained 0.29 percent to 52,637.01 points, while the tech-heavy Nasdaq composite also climbed 0.29 percent to 26,281.61.