South Korean shares opened higher on Monday despite the ongoing U.S.-Iran tensions, with no definitive solution to the U.S. blockade of the key Strait of Hormuz and Iran's President Masoud Pezeshkian telling Pakistan PM Shehbaz Sharif that Tehran will not negotiate with the U.S. under siege, threats, or pressure.
The benchmark Korea Composite Stock Price Index, or Kospi, gained 0.9%, or 57.97 points, to open at 6,533.60. The Kosdaq gained 9.29 points to open at 1,213.13.
Amid the regional tensions, Iranian Foreign Minister Abbas Araghchi will meet Russian President Vladimir Putin in Moscow on Monday, with talks expected to focus on the U.S.-Iran ceasefire, regional tensions, and broader negotiations involving the US and Israel.
Mikhail Ulyanov, Russia's envoy to international organisations in Vienna, said Monday that the U.S. must leave behind "blackmailing" and "ultimatums" in its negotiations with Iran if talks are to move forward.
Market movers Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) added 1.82% and 5.24% in Monday morning trade.