SEOUL, July 27 (Yonhap) -- After choppy trading, South Korean stocks finished nearly 1 percent higher Monday as investors bought tech shares amid a pause in Middle East hostilities. The local currency declined against the U.S. dollar

The benchmark Korea Composite Stock Price Index (KOSPI) added 65.13 points, or 1.9 percent, to close at 6,755.75, rebounding from a 5.72 percent drop on Friday.

Military tensions in the Middle East eased as the United States has suspended its two-week attacks on Iran since Friday.

In response, Iran also stopped conducting counterattacks, while holding talks with Oman over the Strait of Hormuz.

With the pause in the U.S.-Iran war, oil prices slid as Brent crude fell 4.7 percent to $92.27 a barrel and U.S. Texas Intermediate dropped 5.1 percent to $84.89 after briefly hitting $100 per barrel last week.

Investor sentiment was also buoyed by an eye-catching gathering of global tech leaders, including Samsung Electronics Co. Chairman Lee Jae-yong and Nvidia Corp. Chief Executive Officer (CEO) Jensen Huang, and a series of investment agreements worth a combined US$950 billion in San Francisco over the weekend.

brk@yna.co.kr

(END)

  • 'Dracula' featuring Jennie maintains No. 5 on Billboard 100
  • 'Agent Kim Reactivated' reigns atop Netflix's weekly non-English chart for 3rd week
  • Nam Joo-hyuk to star in new Disney+ crime thriller 'Code'
  • Psy's 'Gangnam Style' tops 6 billion YouTube views

  • (LEAD) 3 Korean films invited to screen at Toronto film fest

  • Disney+ to release 2nd season of 'Made in Korea' in Sept.

  • (LEAD) S. Korea, U.S. open shipbuilding partnership center to advance MASGA initiative
  • Lee's apartment sold for 2.9 bln won
  • (LEAD) 3 Korean films invited to screen at Toronto film fest

  • (2nd LD) Flood alert upgraded for Imjin River near inter-Korean border amid downpours

  • Russia preparing to receive another 30,000 N. Korean troops for Ukraine war: Zelenskyy

  • President Lee wraps up visit to San Francisco, heads to S. America
  • Lee arrives in Brazil for summit with Lula, business roundtable
  • SK hynix expected to post record 64.1 tln won in Q2 operating profit: report
  • N. Korean leader's sister rebuffs ARF denuclearization call, vows to update nuclear arsenal 'steadily'