Seoul Stocks Surge on Chip Gains Despite Middle East Tensions

Seoul stocks rose Monday by 1.65 percent, fueled by gains in semiconductor shares despite concerns over Middle East tensions and elevated oil prices.

The Korea Composite Stock Price Index (KOSPI) gained 113.49 points to 7,007.72, marking its third consecutive winning session.

Investor sentiment remained upbeat toward artificial intelligence-related stocks, driving gains in semiconductor shares led by institutional net buying, according to analyst Lee Kyoung-min at Daishin Securities.

Samsung Electronics jumped 4.98 percent to 274,000 won, while chip rival SK hynix gained 0.59 percent to 1.87 million won.