Seoul Shares Rise on Tech Gains Despite Wall Street Losses

Seoul: Seoul shares opened higher Tuesday, led by gains by major chipmakers, despite overnight losses on Wall Street, as hopes for a deal to end the war with Iran fade. The benchmark Korea Composite Stock Price Index (KOSPI) rose 149.83 points, or 2 percent, to 7,127.77 at the opening bell. According to Yonhap News Agency, overnight, the Dow Jones Industrial Average shed 0.51 percent, while the tech-heavy Nasdaq Composite declined 0.32 percent. Elevated oil prices stoked inflation concerns, while prospects for a deal with Iran dimmed after U.S. President Donald Trump said he was not interested in extending an agreement with Iran that was set to expire.