Kospi opens lower as Middle East tensions rise
Published: 02 Oct. 2024, 10:58
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- KIM JU-YEON
- kim.juyeon2@joongang.co.kr
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Wednesday. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/10/02/4c5f37b6-fc6b-4a9d-bd82-b9e0533041ae.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Wednesday. [NEWS1]
Shares opened lower Wednesday tracking overnight losses on Wall Street, amid growing concerns over an all-out war in the Middle East after Iran attacked Israel with missiles.
The Kospi fell 0.89 percent, or 23.04 points, to 2,570.23 in the first 15 minutes of trading.
Overnight, U.S. shares tumbled after Iran fired missiles directly at Israel, with the Dow Jones Industrial Average losing 0.41 percent and the tech-heavy Nasdaq composite plunging 1.53 percent.
In Seoul, Samsung Electronics moved down 1.3 percent and chipmaker SK hynix lost 1.66 percent.
Carmaker Hyundai Motor slipped 2.25 percent and affiliate Kia decreased 1.3 percent. Auto parts maker Hyundai Mobis shed 2.07 percent.
The local currency was trading at 1,321.6 won against the dollar, up 13.8 won from the previous session.
BY KIM JU-YEON, YONHAP
with the Korea JoongAng Daily
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