Seoul shares open higher on chip gains despite Middle East tensions

Seoul shares opened higher Wednesday, as gains in major chipmakers offset lingering concerns over escalating tensions in the Middle East and rising oil prices. After opening 0.26 percent higher, the benchmark Korea Composite Stock Price Index extended gains, trading 65.98 points, or 0.93 percent, higher at 7,019.5 as of 9:15 a.m. Overnight, US stocks ended lower amid heightened Middle East tensions and rising oil prices, while the Philadelphia Semiconductor Index bucked the trend, gaining 1.3 pe

Source: The Korea Herald