A screen at the dealing room of Hana Bank’s headquarters in Seoul, Friday, shows the KOSPI and KOSDAQ indices. Yonhap
Seoul stocks extended losses late Friday morning, tracking overnight declines on Wall Street, as persistent tensions in the Middle East weighed on investor sentiment.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 15.18 points, or 0.23 percent, to 6,460.63 as of 11:20 a.m.
The index opened higher after closing at a record high of 6,475.81 the previous session but gave up early gains, retreating from its recent rally.
Overnight, the Dow Jones Industrial Average slipped 0.36 percent, and the tech-heavy Nasdaq Composite dropped 0.89 percent.
Foreigners sold a net 955.8 billion won ($645 million) worth of stocks, while institutions and individuals bought 583.8 billion won and 398.8 billion won, respectively.
Investor sentiment remained subdued amid limited progress in peace talks between the United States and Iran.
On Thursday (U.S. time), U.S. President Donald Trump said he had ordered the U.S. Navy to target any vessels laying mines in the strait, adding Iran is seeking a deal and talks are under way. Iran was also reported to have reactivated its air defense systems.
Still, hopes persist that a potential second round of talks could ease tensions and help stabilize the Strait of Hormuz, a key global shipping route.
Trump also said Israel and Lebanon would extend their ceasefire by three weeks, easing concerns over a broader regional conflict.
Source: Korea Times News
