Seoul Stocks Rise Despite Iran Threats to Close Strait

The benchmark Korea Composite Stock Price Index rose 1.26 percent to 6,375.59 during Friday morning trading in Seoul. This recovery followed a 4.58 percent plunge in the previous session, with gains driven primarily by technology firms. Samsung Electronics saw its stock rise 2.49 percent, while SK hynix shares climbed 0.6 percent.

The market rally occurred amid escalating geopolitical tensions in the Middle East. Reports indicate that Iran plans to deny access to the Strait of Hormuz for ships from the United States and Israel. Additionally, Iran intends to require compensation from countries it considers hostile before granting them passage through the strategic waterway.

While the Dow Jones Industrial Average and Nasdaq Composite recorded modest overnight gains, uncertainty remains in the global markets. Investors are awaiting clarity on whether the United States and Iran can reach an agreement to ensure the strait remains open.