SEOUL, Aug. 18 (Yonhap) -- Seoul shares opened higher Tuesday, led by gains by major chipmakers, despite overnight losses on Wall Street, as hopes for a deal to end the war with Iran fade.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 149.83 points, or 2 percent, to 7,127.77 at the opening bell.

Overnight, the Dow Jones Industrial Average shed 0.51 percent, while the tech-heavy Nasdaq Composite declined 0.32 percent.

Elevated oil prices stoked inflation concerns, while prospects for a deal with Iran dimmed after U.S. President Donald Trump said he was not interested in extending an agreement with Iran that was set to expire.

kyongae.choi@yna.co.kr

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