Kospi opens marginally higher on Wall Street gains as Middle East tensions ease

Stocks opened slightly higher Tuesday, tracking overnight gains on Wall Street as easing tensions in the Middle East boosted investor appetite for tech shares.

The Kospi gained 57.13 points, or 0.68 percent, to 8,451.78 as of 9:15 a.m.

Investor sentiment improved after the United States and Iran were set to resume talks in Qatar aimed at easing tensions in the Strait of Hormuz, alleviating concerns over a prolonged disruption to global oil supplies.

Overnight, Wall Street rebounded sharply as investors returned to technology stocks.

The Dow Jones Industrial Average gained 0.59 percent to close at a record high, while the Nasdaq composite jumped 2.07 percent and the S&P 500 advanced 1.18 percent.

Crude prices rose modestly as investors monitored the implementation of the U.S.-Iran peace framework.

Samsung Electronics rose 2.32 percent, while SK hynix edged up 0.42 percent.

The two companies on Monday announced major long-term investment plans to accelerate construction of new semiconductor fabs in Gyeonggi and build additional production facilities in the country's southwest.

Battery shares lost ground on profit-taking after sharp gains the previous session.

LG Energy Solution retreated 6.74 percent, and its smaller rival Samsung SDI fell 2.73 percent.

The local currency fell 2.35 won from the previous session to trade at 1,547.55 against the greenback at 9:15 a.m.

Yonhap