Commodities
Seoul Stocks Surge on Chip Gains Amid Middle East Tensions
Seoul's stock market started strong on Wednesday, despite growing concerns over Middle East tensions and rising oil prices.
The Korea Composite Stock Price Index (KOSPI) rose 0.93% to 7,019.5 by 9:15 a.m., with tech heavyweights leading the gains.
Samsung Electronics, a market bellwether, increased 0.37%, while SK hynix, a major chipmaker, jumped 1.78%. Hyundai Motor and Hanwha Aerospace also gained 0.78% and 2.43%, respectively.
Hanwha Ocean was the biggest winner, rising 4.18% after being selected as the preferred bidder for a Royal Thai Navy frigate project worth around $500 million.