Seoul shares open sharply higher on U.S. tech rally, falling oil prices

What happened: South Korean stocks opened sharply higher, tracking overnight Wall Street gains driven by hopes for diplomatic talks to end the U.S.-Iran war and falling oil prices. Key numbers: KOSPI rose 228.37 points, or 4.55 percent, to 5,247.22 at the open. Why it matters: Eased Middle East uncertainty and lower oil prices calmed inflation fears, while the semiconductor index gain came even as Nvidia declined amid a scandal involving CEO Jensen Huang.

South Korean stocks opened sharply higher, tracking overnight Wall Street gains driven by hopes for diplomatic talks to end the U.S.-Iran war and falling oil prices.

Eased Middle East uncertainty and lower oil prices calmed inflation fears, while the semiconductor index gain came even as Nvidia declined amid a scandal involving CEO Jensen Huang.