(ATTN: UPDATES with details in last 5 paras)

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.

After opening 2 percent up, the benchmark Korea Composite Stock Price Index (KOSPI) extended gains, trading 166.91 points, or 2.39 percent, higher at 7,144.85 as of 9:15 a.m.

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.

In Seoul, tech stocks led the gains.

Market bellwether Samsung Electronics rose 3.64 percent, while its chipmaking rival SK hynix jumped 6.38 percent.

Leading refiner SK Innovation climbed 0.54 percent, and shipping firm HMM surged 9.41 percent.

Among decliners, top carmaker Hyundai Motor fell 0.77 percent and defense giant Hanwha Aerospace declined 0.26 percent.

The Korean won was trading at 1,412.95 won against the U.S. dollar as of 9:15 a.m., up 2.65 won from the end of the previous stock session.

kyongae.choi@yna.co.kr

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