Seoul: South Korean stocks opened sharply higher Tuesday, as investors pin hopes on easing military tensions in the Middle East. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 229.68 points, or 4.25 percent, to 5,635.43, in the first minute of trading. The index plunged more than 6 percent the previous session.

According to Yonhap News Agency, overnight, major stock indexes on Wall Street closed over 1 percent higher. This shift followed U.S. President Donald Trump's statement that the United States and Iran held talks, and that he ordered the postponement of strikes against Iranian power plants and energy infrastructure for five days. The development gave investors hope that the turmoil in the Middle East may end soon and that rising oil prices could stabilize.