KOSPI opens at fresh high on chip rally amid woes over breakdown of peace deal

SEOUL, May 11 (Yonhap) -- South Korean stocks opened at a fresh record high Monday, easily breaching the 7,700-point mark, boosted by an extended rally of blue chip semiconductor shares, despite woes over the U. S.-Iran peace deal at the risk of rupture. The benchmark Korea Composite Stock Price Index (KOSPI) opened at a fresh high of 7,775.31, up 277.31 points, or 3.7 percent. The index nearly breached the 7,500-point threshold Friday, closing at a fresh peak of 7,498 points and continuing its record-breaking run. The surge came even after U. S. President Donald Trump said he cannot accept Iran's peace offer, renewing concerns over the Middle Eastern crisis, as major chipmakers here kicked off bullish tracking an overnight gain on Wall Street. On Friday (local time), major U. S. stock indexes closed higher, driven by a surge in chip and AI shares. Micron soared 15.49 percent, AMD jumped 11.44 percent, and Nvidia rose 1.75 percent. A dealing room at Hana Bank in Seoul on May 8, 2026 (Yonhap) nyway@yna.co.kr(END)