(LEAD) Seoul shares open higher amid revived AI hopes | Yonhap News Agency

SEOUL, Sept. 8 (Yonhap) -- Seoul shares opened higher Tuesday, led by gains in semiconductor stocks, amid escalating tensions in the Middle East that pushed up oil prices.

After opening 0.72 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, trading 54.51 points, or 0.78 percent, up at 7,049.90 as of 9:15 a.m.

The index soared by more than 4 percent in the previous session on the back of a rally in tech stocks amid revived hopes for artificial intelligence (AI)-related earnings momentum.

The U.S. stock market was closed on Sept. 7 (U.S. time) for the Labor Day federal holiday.

Higher energy prices are fueling inflation concerns, with investors closely watching whether the Fed will raise rates or keep them on hold.

Investors are also awaiting Friday's inflation report for clues about the central bank's rate path.

Tehran said a deal with Oman to manage shipping through the Strait of Hormuz was imminent, while warning that ships faced the risk of attack off the Omani coast.

In Seoul, tech shares led the gains.

Market bellwether Samsung Electronics rose 1.11 percent, and its chipmaking rival SK hynix climbed 2.97 percent.

State-run utility Korea Electric Power Co. jumped 3.82 percent, and leading refiner SK Innovation advanced 1.6 percent.

Among decliners, top carmaker Hyundai Motor fell 0.76 percent and leading battery maker LG Energy Solution declined 1.24 percent.

The Korean won was trading at 1,338.55 won against the U.S. dollar as of 9:15 a.m., up 8.15 won from the close of the previous stock trading session.

This photo taken on Sept. 7, 2026, shows the dealing room of Hana Bank in Seoul after the market close. (Yonhap)

kyongae.choi@yna.co.kr

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