Seoul Stocks Plummet Amid Inflation Concerns

Seoul's stock market took a hit on Friday as investors grew concerned about inflation and rising oil prices. The Korea Composite Stock Price Index (KOSPI) plummeted 1.76% to close at 6,909.91 after opening 3.29% lower.

The decline was led by tech stocks, with Samsung Electronics falling 3.53% to 259,500 won and SK hynix declining 2.21% to 1.81 million won.

Top carmaker Hyundai Motor dropped 1.67%, while leading shipbuilder HD Hyundai Heavy Industries bucked the trend by jumping 5.62% to 479,000 won.

Bond yields rose as investors await key U.S. inflation data due out on Friday, which may provide clues about the Federal Reserve's future interest rate policy.