Seoul: Seoul shares opened higher Tuesday, propelled by gains in major chipmakers, even as concerns over the Middle East and overnight losses on Wall Street loomed large. The benchmark Korea Composite Stock Price Index (KOSPI) saw an initial increase of 2 percent and continued to rise, trading 166.91 points, or 2.39 percent, higher at 7,144.85 by 9:15 a.m.

According to Yonhap News Agency, the U.S. markets experienced declines, with the Dow Jones Industrial Average decreasing by 0.51 percent and the tech-heavy Nasdaq composite falling by 0.32 percent. The dip was attributed to rising oil prices fueling inflation worries and the diminishing likelihood of a deal with Iran, following U.S. President Donald Trump's statement that he was not interested in extending an agreement with Iran set to expire.

In Seoul, technology stocks were the main drivers of the market's gains. Market leader Samsung Electronics increased by 3.64 percent, and its competitor, SK hynix, saw a significant rise of 6.38 percent. Other sectors also experienced growth, with leading refiner SK Innovation climbing 0.54 percent and shipping firm HMM surging by 9.41 percent.

On the downside, the automotive and defense sectors saw some losses. Hyundai Motor, a top carmaker, fell by 0.77 percent, while defense giant Hanwha Aerospace declined by 0.26 percent. Meanwhile, the Korean won gained ground against the U.S. dollar, trading at 1,412.95 won, up 2.65 won from the previous session's close.