Seoul Stocks Drop Amid Oil Price Surge

South Korean stocks opened lower on Tuesday due to inflation concerns fueled by rising oil prices. The Korea Composite Stock Price Index (KOSPI) fell 13.31 points, or 0.19 percent, to 6,876.43 as of 9:15 a.m.

The decline was in line with losses on Wall Street overnight, where the S&P 500 fell 0.77 percent, the Dow Jones Industrial Average slipped 0.67 percent, and the tech-heavy Nasdaq composite decreased 0.92 percent.

Market heavyweights were mixed, with Samsung Electronics gaining 0.93 percent, while Hyundai Motor shed 1.4 percent.