Seoul Stocks Slide Amid Middle East Tensions, Rising Oil Prices

Seoul's stock market opened lower on Thursday due to concerns about inflation and interest rates.

The Korea Composite Stock Price Index (KOSPI) fell by 12.79 points, or 0.18 percent, to 7,038.85 at the opening bell.

This decline was in line with Wall Street's losses overnight, which were caused by escalating tensions in the Middle East and rising oil prices.

Rising oil prices are fueling concerns about inflation, which may lead to a Federal Reserve interest rate hike to control price gains.