KOSPI lifted by semiconductor rally, opens higher despite firm U.S. market [fn Opening Market Report]

[Financial News] The Korea Composite Stock Price Index (KOSPI) opened higher, driven by strength in semiconductor stocks.
According to the Korea Exchange, on the 10th the KOSPI opened at 5,876.12, up 1.70% from the previous session. The Korea Securities Dealers Automated Quotations (KOSDAQ) started at 1,089.14, a gain of 1.22% from the day before.
This contrasts with the U.S. stock market, which finished only slightly higher on the 9th local time. On that day, the Dow Jones Industrial Average (DJIA) closed at 48,185.80, up 0.58% from the previous session.
The S&P 500 Index ended at 6,824.66, up 0.62%, while the NASDAQ Composite Index, which is heavily weighted toward technology stocks, rose 0.83% to finish at 22,822.42.
Amazon shares climbed 5.6%. The move came after the company revealed in its annual shareholder letter that it is considering selling its in-house Artificial Intelligence (AI) chips to third parties. Meta gained about 2.6% on expectations following the release of its own AI model.
Early in the session, concerns about a ceasefire grew after reports that the reopening of the Strait of Hormuz, a key condition for a truce between the United States and the Islamic Republic of Iran, was facing setbacks.
However, sentiment improved in the afternoon after Israel, in relation to its attacks on Lebanon that had emerged as the biggest flashpoint in the ceasefire talks, announced it would enter into direct negotiations with the Lebanese government.
Israel had continued heavy bombardments on Lebanon, saying that Lebanon was not included in the ceasefire agreement even after the truce. The Islamic Republic of Iran protested this, and there had been growing concern that the situation could jeopardize the ceasefire deal.
Donald Trump said he was "very optimistic" ahead of ceasefire talks with the Islamic Republic of Iran scheduled for the 11th.
In an interview with the National Broadcasting Company (NBC), he stated, "Iranian leaders speak very differently at the negotiating table than they do to the media," adding that they are "much more reasonable."
Still, some observers remain skeptical about Israel’s sincerity. In a statement to residents in northern Israel, Prime Minister of Israel Benjamin Netanyahu declared, "There is no ceasefire in Lebanon," and said, "We continue to strike Hezbollah with overwhelming force."
International oil prices were highly volatile during the session but ended with modest gains. On ICE Futures Europe in London, June delivery Brent Crude Oil settled at $95.92 per barrel, up $1.17, or 1.23%, from the previous session.
May delivery West Texas Intermediate crude oil (WTI) rose $3.46, or 3.66%, to close at $97.87 per barrel on the New York Mercantile Exchange.
fair@fnnews.com Han Young-joon Reporter