▲ Officials work in a dealing room at Hana Bank in central Seoul on March 16, 2026. (Yonhap)

(LEAD) stocks-open

(LEAD) KOSPI opens higher amid oil price hike

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SEOUL, March 16 (Yonhap) -- South Korean stocks started higher Monday on strong gains in tech shares despite a jump in global crude prices sparked by U.S. air strikes on Iran's main export hub.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 58.31 points, or 1.06 percent, to 5,545.55 in the first 15 minutes of trading.

The KOSPI's rise came despite a drop in major U.S. stock indexes last week amid escalating turmoil in the Middle East.

On Friday, the Dow Jones Industrial Average fell 0.26 percent, while tech-heavy Nasdaq Composite dipped 0.98 percent, and the S&P 500 lost 0.61 percent.

Brent crude oil prices, the international oil benchmark, surpassed $103 per barrel last week, while the U.S. benchmark West Texas Intermediate (WTI) reached $98.71 after the United States bombed military targets on Kharg Island, a key terminal that handles almost all of Iran's oil exports.

In Seoul, tech behemoth Samsung Electronics started 2.18 percent higher, with its chipmaking rival SK hynix jumping 3.19 percent.

Defense Giant Hanwha Aerospace gained 1.28 percent, and power plant manufacturer Doosan Enerbility went up 1.88 percent.

Artificial intelligence investment firm SK Square increased 2.06 percent, and Mirae Asset Securities soared 4.05 percent.

On the other hand, Hyundai Motor kicked off 0.77 percent lower, and major shipbuilder HD Hyundai Heavy Industries lost 1.34 percent.

The Korean won was trading at 1,494.3 won against the U.S. dollar at 9:15 a.m., down 0.6 won from the previous session. The local currency had kicked off above the 1,500 won level at the opening bell, marking the first time it had pierced the threshold since March 2009.

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