A screen at the dealing room of Hana Bank’s headquarters in central Seoul shows the benchmark KOSPI and Kosdaq, Monday. Yonhap
Korean stocks started higher Monday as the United States paused strikes on Iran over the weekend, easing military tensions in the Middle East.
The benchmark Korea Composite Stock Price Index (KOSPI) added 115.65 points, or 1.73 percent, to 6,806.27 at the opening bell.
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 $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.
