Kospi opens higher on bargain hunting amid Iran tensions

Stocks opened higher Tuesday as investors snapped up battered tech heavyweights following a sharp sell-off in recent sessions, outweighing lingering concerns over escalating tensions in the Middle East.

The Kospi opened 37.61 points, or 0.58 percent higher, at 6,553.88.

The benchmark index shed 4.46 percent Monday, following a 6.37 percent fall Friday.

Overnight, major U.S. stock indexes closed lower as investors weighed the risk of renewed hostilities in the Middle East while awaiting earnings reports from major technology companies later this week.

The S&P 500 slipped 0.2 percent, and the Dow Jones Industrial Average fell 0.6 percent. The tech-heavy Nasdaq inched down 0.05 percent.

U.S. President Donald Trump vowed that Iran "will pay" for killing three American soldiers in recent days, even as mediators proposed a new truce.

Saudi Arabia said it would take all necessary measures to protect its ships following the threats by the Tehran-backed Houthi militants in Yemen.

Yonhap