KOSPI Falls Amid Rising Oil Prices and Inflation Concerns

Seoul stocks closed lower on Thursday due to surging oil prices and escalating tensions in the Middle East. The rising cost of crude has fueled inflation concerns, with investors waiting for Friday's US consumer price index (CPI) data to gauge the Federal Reserve's future rate path.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 17.72 points, or 0.25 percent, to close at 7,033.92. Tech stocks led the decline, with Samsung Electronics falling 0.19 percent and SK hynix declining 0.16 percent.

However, some gainers emerged, including Hyundai Motor, which rose 0.26 percent, and Hanwha Aerospace, which climbed 1.91 percent. The Korean won fell against the US dollar, trading at 1,339.2 won per dollar.