▲ This Reuters file photo shows ships and tankers in the Strait of Hormuz off the coast of Musandam, Oman, on April 18, 2026. (Yonhap)

stocks-open

Seoul shares open at fresh record high on eased Middle East tensions

SEOUL, May 4 (Yonhap) -- South Korean stocks opened at a fresh high of over 6,700 on Monday as U.S. President Donald Trump announced plans to free ships stranded in the Strait of Hormuz, while Washington and Tehran exchanged their proposals for peace talks.

The benchmark Korea Composite Stock Price Index (KOSPI) opened at a fresh high of 6,782.93, up 184.06 points, or 2.79 percent.

The index had risen three straight sessions to close at an all-time high of 6,690.90 on Thursday but fell 1.38 percent to 6,598.87 on Friday.

Overnight, Trump said on social media that the United States would start a project to aid ships that have been locked up in the key shipping route as a "humanitarian gesture" to aid neutral countries in the U.S.-Israeli war with Iran.

Iran has been blocking nearly all shipping from the Persian Gulf for more than two months, while the U.S. imposed its own blockade of ships from Iranian ports last month.

Iran said on Sunday it had received a U.S. response to its latest offer for peace talks a day after Trump said he would probably reject the Iranian proposal, noting "they have not paid a big enough price."

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