Seoul: Seoul shares opened higher Wednesday, as gains in major chipmakers offset lingering concerns over escalating tensions in the Middle East and rising oil prices. The benchmark Korea Composite Stock Price Index (KOSPI) gained 18.35 points, or 0.26 percent, to 6,972.87 at the opening bell.

According to Yonhap News Agency, overnight, U.S. stocks ended lower amid heightened Middle East tensions and rising oil prices, while the Philadelphia Semiconductor Index bucked the trend, gaining 1.3 percent on continued artificial intelligence optimism. Global oil prices extended gains amid concerns over potential supply disruptions following another round of strikes on energy infrastructure in the Middle East.