(LEAD) Seoul shares open sharply higher on tech rebound, Iran-Israel ceasefire
2026.06.09 09:27
(LEAD) Seoul shares open sharply higher on tech rebound, Iran-Israel ceasefire
(ATTN: UPDATES with latest info throughout; CHANGES photo)
SEOUL, June 9 (Yonhap) -- South Korean stocks opened sharply higher Tuesday, rebounding from the previous session's over 8 percent plunge, as major technology shares bounced back amid a ceasefire between Israel and Iran and sentiment that business fundamentals of sectors related to artificial intelligence (AI) remain strong.
After opening 2.85 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended its gains, rising 247.84 points, or 3.31 percent, to 7,732.25 as of 9:15 a.m.
With the sharp rise, the Korea Exchange activated a buy-side sidecar for the KOSPI at around 9:12 a.m., halting program trading for five minutes.
The rebound came after the KOSPI slid more than 8 percent Monday on a tech hemorrhage sparked by woes over AI profitability and a possible rate hike by the U.S. Federal Reserve, fueled after the release of hotter-than-expected U.S. jobs data for May.
Overnight, major U.S. indexes closed mixed as investors digested news that Israel and Iran halted attacks on each other after a warning from U.S. President Donald Trump and as technology stocks bounced back after their steep fall Friday (local time).
The Dow Jones Industrial Average closed 0.16 percent lower, while the S&P 500 rose 0.3 percent and the tech-heavy Nasdaq composite added 0.86 percent.
Micron surged 9.87 percent, SanDisk increased 5.3 percent, artificial intelligence (AI) chip giant Nvidia gained 1.73 percent, and AMD went up 5.14 percent on bets that the AI boom is not over.
In Seoul, market top-cap Samsung Electronics jumped 4.06 percent, while its chipmaking rival SK hynix soared 6.59 percent.
AI investment firm SK Square escalated 6.44 percent and Samsung Electro-Mechanics shot up 10.04 percent.
Top automaker Hyundai Motor climbed 2.35 percent, and its sister Kia advanced 6.01 percent.
Power plant manufacturer Doosan Enerbility and defense giant Hanwha Aerospace added 3.96 percent and 1.79 percent, respectively.
On the other hand, internet portal operator Naver plunged 5.91 percent after its sharp rise the previous day. Home appliances maker LG Electronics slid 6.9 percent.
The Korean won was trading at 1,531.2 won against the U.S. dollar at 9:15 a.m., up 3.8 won from the previous session.
nyway@yna.co.kr
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