Kospi opens higher on tech gains despite inflation concerns, dimmed hopes for U.S.-Iran peace deal

Shares opened higher on 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 Kospi rose 149.83 points, or 2 percent, to 7,127.77 at the opening bell.

Overnight, the Dow Jones Industrial Average shed 0.51 percent, and the tech-heavy Nasdaq composite declined 0.32 percent.

Elevated oil prices stoked inflation concerns, and 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.

Yonhap