Seoul: South Korean stocks opened significantly higher on Tuesday, rebounding from a sharp decline the previous day, following U.S. President Donald Trump's remarks suggesting that the U.S.-Iran conflict is nearing its end.

According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) climbed 271.34 points, or 5.17 percent, reaching 5,523.21 at the start of trading. This surge came after the Dow Jones Industrial Average rose 0.5 percent, the Nasdaq Composite advanced 1.38 percent, and the S and P 500 increased 0.83 percent overnight. The KOSPI had previously fallen by 5.96 percent on Monday.

During an interview with CBS News, Trump indicated that the conflict with Iran is "very complete," resulting in a sharp decrease in global crude prices. This announcement contributed to a positive shift in market sentiment.

In the previous session, the Korea Exchange (KRX) implemented a circuit breaker on the main bourse, halting trading for 20 minutes due to extreme market volatility. This was the first time since March 2020 that a circuit breaker had been activated twice in a single month. The earlier activation occurred last Wednesday when the KOSPI experienced a 12.06 percent drop, marking the steepest one-day decline since September 12, 2001.