Seoul Stocks Open Higher Ahead of Big Tech Earnings; Oil Prices Stay Elevated
KOSPI rises 0.48% as investors await Alphabet, Meta results amid Middle East tensions
Quick Look
- Seoul stocks opened higher on Tuesday with KOSPI up 0.48% to 6,646.8, driven by optimism ahead of earnings from U.S. tech giants including Alphabet and Meta.
- Wall Street's S&P500 and Nasdaq closed at new highs as investors adopted a wait-and-see approach before Magnificent 7 earnings.
- Meanwhile, oil prices remain above $100 per barrel at three-week highs amid extended Middle East crisis and diplomatic efforts involving the U.S., Iran, and Russia.
AI-generated summary
Seoul stocks opened higher 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) opened up 31.77 points, or 0.48 percent, to 6,646.8. 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. Meanwhile, Iran's foreign minister held a meeting with Russian President Vladimir Putin on Monday (local time), which included discussions on the "war and aggression" by the U.S. and Israel, according to Iran's foreign ministry. Prices of oil still remain high, with Brent crude, the international oil benchmark, above $100 per barrel at a three-week high.
