▲ A dealing room at Hana Bank in Seoul on May 22, 2026 (Yonhap)

stocks-open

Seoul shares open at new record high over 8,000 on hopes for U.S.-Iran deal

SEOUL, May 26 (Yonhap) -- South Korean stocks opened at a new record high of over 8,000 Tuesday on rising hopes for a U.S.-Iran deal to reopen the Strait of Hormuz.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 223.2 points, or 2.84 percent, to 8,070.91 at the opening bell.

Overnight, U.S. President Donald Trump said that peace negotiations with Iran are proceeding "nicely" but warned of fresh attacks if they fail.

On optimism for a possible end of the war, oil prices fell sharply. Brent crude sank 7 percent to US$96, and U.S. West Texas Intermediate futures dropped 6.5 percent to $90.

The South Korean stock market closed Monday in observance of the Buddha's Birthday holiday.

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