Seoul: Seoul stocks opened higher Thursday at a new peak, surpassing 6,700, as investors showed confidence in sustained chip demand driven by strong earnings from Samsung and major U.S. tech giants. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 48.49 points, or 0.72 percent, reaching a fresh high of 6,739.39 at the opening bell.

According to Yonhap News Agency, the KOSPI had closed at another record high of 6,690.90 on Wednesday, marking the third consecutive day of gains. The overnight performance of major U.S. indexes showed mixed results. The Dow Jones Industrial Average decreased by 0.57 percent, while the S and P 500 fell slightly by 0.04 percent. In contrast, the tech-heavy Nasdaq composite edged up by 0.04 percent.

These mixed outcomes followed a rally in international oil prices, which occurred after U.S. President Donald Trump announced that the naval blockade of Iran would remain in place until a nuclear agreement is reached with Tehran. Meanwhile, investors were closely monitoring earnings reports from tech giants such as Alphabet, Amazon.com, Meta Platforms, and Microsoft.

Once the U.S. markets closed, all four companies reported revenue that exceeded expectations for the first quarter, renewing optimism for a sustained artificial intelligence (AI) boom. The Brent crude price, known as an international oil benchmark, surged by 6.1 percent to $118.03 per barrel, while the WTI price increased by 6.95 percent to $106.88 per barrel.