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South Korean Shares Open Higher on US-Iran Deal, Upbeat Export Price Data

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South Korean shares opened sharply higher on Tuesday on elevated investor sentiment after the U.S. and Iran signed a memorandum of understanding to end the Middle East war.

The benchmark Korea Composite Stock Price Index, or Kospi, rose 1.8%, or 150.57 points, to open at 8,696.55. The Kosdaq, however, marginally declined to open at 1,039 points.

Senior U.S. officials confirmed the signing of an MOU, with a formal signing ceremony expected to take place on Friday, Reuters reported.

At home, sentiment was boosted by a faster increase in export prices in May, boosted by the rally in exports of semiconductor-linked products.

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