Seoul shares opened higher, boosted by technology stocks, despite renewed geopolitical tensions in the Middle East concerning the Strait of Hormuz. U.S. markets showed mixed performance overnight.
The performance of Seoul's stock market, particularly its technology sector, is influenced by global geopolitical events and broader U.S. market trends, highlighting the interconnectedness of international financial markets.
Seoul's stock market opened higher on Friday, August 7, 2026, with gains in technology stocks helping to offset renewed geopolitical tensions in the Middle East. The Korea Composite Stock Price Index (KOSPI) began the session up 68.69 points, or 1.09 percent, at 6,365.07.
This followed a significant decline of 4.58 percent in the previous session, which was largely driven by losses in technology shares. Overnight trading in the U.S. saw a mixed performance, with the Dow Jones Industrial Average increasing by 0.85 percent and the tech-heavy Nasdaq Composite rising by 0.06 percent.
The market uncertainty stems from a lack of clarity regarding a potential agreement between the United States and Iran concerning the Strait of Hormuz. Reports indicate that Iran intends to deny passage to U.S. and Israeli ships in the strategic waterway and may demand compensation from nations it deems hostile before allowing access.