An official works at a dealing room in Hana Bank, Seoul, Monday. Yonhap
Korean stocks opened lower Monday as investors tracked declines on Wall Street last week amid rising woes over inflation caused by the deadlocked situation in the Middle East.
The benchmark Korea Composite Stock Price Index shed 49.89 points, or 0.67 percent, to 7,443.29 at the opening bell.
On Friday (local time), U.S. stocks retreated from record highs amid persistent concerns over rising oil prices driven by ongoing geopolitical tensions in the Middle East.
The Dow Jones Industrial Average dropped 1.07 percent, while the S&P 500 fell 1.24 percent and the tech-heavy Nasdaq composite lost 1.54 percent.
The KOSPI plunged more than 6 percent Friday after briefly topping the historic 8,000-point mark, as investors locked in profits from technology shares and other market heavyweights following a record-breaking rally amid lingering uncertainties surrounding the Middle East crisis.
Source: Korea Times News
