KOSPI Drops Amid Rising Oil Prices, Mideast Tensions
Seoul's stock market opened lower on Thursday due to escalating tensions in the Middle East and rising oil prices. This led to concerns about inflation, which may prompt the US Federal Reserve to raise interest rates.
The Korea Composite Stock Price Index (KOSPI) declined by 0.29% to 7,031.53 as of 9:15 a.m. Large-cap stocks were mixed, with Samsung Electronics falling 0.74%, while SK hynix rose 0.05%
Market bellwethers such as Samsung SDI and Korea Electric Power Corp. dropped 1.05% and 1.93% respectively.