Key facts
- Seoul stocks opened higher on Tuesday, following gains on Wall Street.
- The KOSPI index opened up 1.5 percent at 6,351.38.
- On Monday, the KOSPI index plunged over 5 percent after a record 18 percent surge on Friday.
- U.S. stocks advanced overnight, with Amazon.com Inc. contributing to gains.
- Falling oil prices also supported positive market sentiment.
Seoul shares opened higher on Tuesday, tracking overnight gains on Wall Street as investors weighed a rebound amid lingering uncertainty over the Middle East and the artificial intelligence (AI)-backed rally. The benchmark Korea Composite Stock Price Index (KOSPI) opened 93.93 points, or 1.5 percent, higher at 6,351.38. The index had plunged by more than 5 percent on Monday following a record 18-percent surge on Friday.
Overnight, U.S. stocks advanced, with Amazon.com Inc.'s 4.5 percent gain following strong earnings helping to lift companies benefiting from demand for AI. The Dow Jones Industrial Average rose 1.32 percent to 53,178.41, while the tech-heavy Nasdaq Composite climbed 2.13 percent to 25,913.90. Falling oil prices also contributed to the broadly positive market sentiment on Monday.