HomeAll NewsEducationTV
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
Story archiveAll categories
← All Stories

Seoul shares open higher on extended tech rally

Created at 23 Jul · 12:11 AM1 source↑ Market-relevant
IN SHORT

South Korean stocks opened higher on Thursday, led by a sustained tech rally. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.56 percent in early trading, boosted by strong earnings from Alphabet and its increased forecast for AI-driven capital expenditures.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

173.92 pointsKOSPI increase
2.56 percentKOSPI gain
6,971.62KOSPI opening level
82 percentAlphabet cloud business growth
12thconsecutive U.S. strike against Iran

Who's Involved

Alphabet
Google's parent company, reported strong earnings and increased AI-driven capital expenditure forecast.
Donald Trump
U.S. President, threatened retaliation against Iran for striking ships.
Seoul shares open higher on extended tech rally

↳ Why This Matters

The performance of the South Korean stock market, particularly its tech sector, is influenced by global tech trends and geopolitical stability. Positive earnings from major tech players like Alphabet can boost investor confidence in related markets, while geopolitical tensions can create broader market caution and impact commodity prices.

Key facts

  • South Korean stocks opened higher on Thursday, July 23, 2026.
  • The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.56 percent in early trading.
  • Alphabet's strong second-quarter revenue and increased capital expenditure forecast for AI demand boosted the tech rally.
  • Escalating tensions in the Middle East have slowed traffic through the Strait of Hormuz, impacting global oil prices.

    • Seoul shares opened higher on Thursday, July 23, 2026, driven by a sustained technology rally, with the benchmark Korea Composite Stock Price Index (KOSPI) gaining 173.92 points, or 2.56 percent, to 6,971.62 in the first 15 minutes of trading.

    The positive sentiment was bolstered by Google's parent company, Alphabet, which reported better-than-expected revenue for the second quarter. Alphabet's cloud business saw an 82 percent growth, and the company increased its capital expenditure forecast to meet booming artificial intelligence (AI) demand.

    However, overnight U.S. stocks closed lower as investors remained cautious ahead of further big tech earnings and escalating tensions in the Middle East. The United States launched its 12th consecutive strike against Iran, with President Donald Trump issuing threats in response to Tehran's actions against ships in the Strait of Hormuz. While the crucial waterway remains open, traffic has slowed due to the ongoing conflict, contributing to a rise in global oil prices.

    Frequently asked questions

    The KOSPI is the benchmark stock market index of South Korea, representing the performance of major companies listed on the Korea Exchange.

    Alphabet's strong performance, particularly in its cloud business and its increased investment in AI, signals robust demand in the tech sector, which positively influences technology-heavy markets like South Korea's.

    The Strait of Hormuz is a vital chokepoint for global oil transportation, and any disruption to traffic there can significantly impact oil prices and global energy markets.

    What Happens Next

    01Further earnings reports from major tech companies will be closely watched.
    02Developments in the Middle East tensions and their impact on oil prices will continue to be monitored.

    Get the newsletter.

    Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

    Cadence

    How It Developed

    South Korean stocks opened higher on Thursday.
    The KOSPI rose 173.92 points, or 2.56 percent, to 6,971.62.
    Alphabet reported better-than-expected revenue and lifted its capital expenditure forecast due to AI demand.
    Tensions in the Middle East and U.S. strikes against Iran have slowed traffic through the Strait of Hormuz, pushing up global oil prices.

    Sources

    T1
    Seoul shares open higher on extended tech rallyYonhap News Agency

    Related Stories

    South Korea Economy Expands 0.6% in Q2 on Chip Exports
    22 Jul · 11:16 PM
    Asian stocks rise, oil surges on Mideast tensions; Wall Street dips
    22 Jul · 7:06 AM
    China's fiscal revenue expands 4.7% in first half
    22 Jul · 7:13 AM
    South Korea charges former US diplomat with defaming Lee Jae Myung
    23 Jul · 1:10 AM
    Indonesia enacts market reforms to avoid MSCI downgrade
    22 Jul · 6:06 AM