Go to Contents Go to Navigation

Seoul stocks open sharply lower on Mideast tensions

All News 09:25 January 06, 2020

SEOUL, Jan. 6 (Yonhap) -- South Korean stocks opened sharply lower Monday as investors increasingly fret over growing tensions in the Middle East.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 18.43 points, or 0.85 percent, to 2,158.03 in the first 15 minutes of trading.

The weak start follows heavy losses on Wall Street on Friday when the U.S. killed a top Iranian commander, sparking fresh tensions in one of the world's largest crude-producing regions.

The Dow Jones industrial average plunged 233.92 points, or 0.81 percent, to close at 28,634.88 on Friday (New York time).

In Seoul, most large caps were in negative terrain.

Market bellwether Samsung Electronics tumbled 1.26 percent, while No. 2 chipmaker SK hynix lost 0.95 percent.

Top automaker Hyundai Motor remained flat, but its smaller affiliate Kia Motors fell 0.71 percent.

The local currency was trading at 1,167.35 won per dollar, down 0.25 won from the previous session's close.


Send Feedback
How can we improve?
Thanks for your feedback!