Seoul stocks open sharply lower amid Mideast uncertainty as oil prices rise
The Korea Composite Stock Price Index fell 3.12 percent to 6,694.56 on Monday, driven by geopolitical tensions in the Middle East. US stocks rose on reports of potential Gulf-Iran talks on reopening the Strait of Hormuz without US involvement. The decline in Seoul stocks followed a surge in oil prices.
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(LEAD) Seoul stocks open sharply lower amid Mideast uncertainty en.yna.co.kr
Seoul stocks opened sharply lower Monday, bucking advances on Wall Street, as geopolitical uncertainties in the Middle East pushed up oil prices. The benchmark Korea Composite Stock Price Index was down 215.35 points, or 3.12 percent, to 6,694.56 as of 9:16 a.m. On Friday, US stocks closed higher on reports Gulf diplomats and Iran officials could hold a meeting Monday to discuss plans to reopen the Strait of Hormuz, without the US participating. The S&P 500 added 0.86 percent, and the tech-heavy