Seoul stocks open at record high ahead of U.S. tech earnings, Middle East tensions linger

Seoul stocks opened at a record high on Tuesday ahead of earnings releases this week from U.S. big tech companies, such as Alphabet and Meta, amid an extended crisis in the Middle East. The benchmark Korea Composite Stock Price Index (KOSPI) rose 41.02 points, or 0.62 percent, to 6,656.05 as of 9:15 a.m. The index closed at an all-time high of 6,615.03 points the previous session. Overnight, major stock indexes on Wall Street closed mixed, with the S&P500 and the tech-heavy Nasdaq closing slightly higher to another all-time high. Investors took a wait-and-see approach ahead of a first-quarter earnings release from the Magnificent 7 (M7) companies, including Alphabet, Microsoft and Apple. On the Middle East front, the White House said U.S. President Donald Trump is expected to hold a meeting with top national security officials to discuss the ongoing stalemate in discussions with Iran. Iran's foreign minister also held a meeting with Russian President Vladimir Putin on Monday (local time), which included discussions on "the war and the aggression" by the U.S. and Israel, according to Iran's foreign ministry. Iran is reassessing how to proceed with diplomacy to end the war, blaming Washington's "destructive habits" for slowed progress. Prices of oil still remain high, with Brent crude, the international oil benchmark, above $100 per barrel at a three-week high. In Seoul, most large-cap shares were trading higher. Market top-cap Samsung Electronics inched down 0.78 percent, while its chipmaking rival SK hynix advanced 1.86 percent. Battery maker LG Energy Solution rose 1.94 percent, top carmaker Hyundai Motor moved up 1.34 percent, and major financial group KB Financial dipped 0.64 percent. The Korean won was quoted at 1,474.1 won against the U.S. dollar, down 1.6 won from the previous session.