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Electronic signboards at a Hana Bank dealing room in Seoul show the KOSPI trading more than 1 percent lower in the morning session today due to the Ukraine crisis. (Yonhap) |
South Korean stocks opened lower Wednesday amid continued Ukraine tensions.
The benchmark Korea Composite Stock Price Index (KOSPI) retreated 4.98 points, or 0.18 percent, to 2,694.2 points in the first 15 minutes of trading.
The key stock index traded bearish as investors remained cautious amid the Ukraine tensions.
Overnight, the tech-heavy Nasdaq composite lost 1.59 percent and the Dow Jones Industrial Average declined 1.76 percent, largely on concerns that the war in Ukraine may push up the commodity prices and peg the global economic recovery.
Most stocks retreated in Seoul, led by foreign sell-offs.
Market bellwether Samsung Electronics lost 0.42 percent, while No. 2 chipmaker SK hynix declined 0.4 percent.
Internet portal operator Naver retreated 1.1 percent, and top carmaker Hyundai Motor decreased 2 percent. Leading chemical firm LG Chem moved down 0.71 percent.
The local currency was trading at 1,205.7 won against the U.S. dollar, down 3.4 won from the previous session's close. (Yonhap)
