▲ Financial data is displayed on a screen at Hana Bank's dealing room in Seoul on July 27, 2026. (Yonhap)

(ATTN: UPDATES with latest figures in paras 2, 7-10; CHANGES photo)

SEOUL, July 27 (Yonhap) -- South Korean stocks started higher Monday as the United States paused strikes on Iran over the weekend, easing military tensions in the Middle East.

Opening 1.73 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) narrowed gains, adding 45.47 points, or 0.68 percent, to 6,736.09 as of 9:15 a.m.

The U.S. has held off its attack on Iran since Friday after 13 days of air strikes, raising hopes of a diplomatic solution to the near five-month war.

Oil prices also fell as Brent crude futures dropped 5.7 percent to US$91 per barrel and West Texas Intermediate slipped 5.5 percent to $84. Brent crude, the international standard, briefly topped $100 a barrel last week as the U.S.-Iran conflict spread beyond the Strait of Hormuz to the Red Sea.

Also over the weekend, South Korean and U.S. tech companies agreed to pursue a series of cooperation projects worth a combined US$950 billion during an artificial intelligence summit hosted by the South Korean government in San Francisco.

The projects include a long-term deal under which SK Group will supply $750 billion worth of high-performance semiconductors to Nvidia and others.

Market bellwether Samsung Electronics rose 1.6 percent, and its chipmaking rival SK hynix increased 0.06 percent.

Top carmaker Hyundai Motor climbed 0.25 percent, but its sister Kia dropped 1.69 percent.

Naver shot up 12.29 percent after announcing Nvidia's $1 billion investment as part of their partnership to build a new data center.

The Korean won was trading at 1,459.3 won against the U.S. dollar, up 0.6 won from the previous session.

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