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Kospi opens nearly flat over Middle East uncertainty

Published: 18 Jun. 2025, 10:31

A dealing room at Hana Bank in Seoul on June 18. [YONHAP]

Korean stocks opened almost flat on Wednesday over heightened uncertainty in the Middle East amid escalating tensions between Israel and Iran.

The benchmark Kospi added 0.89 point, or 0.03 percent, to 2,951.19 in the first 15 minutes of trading.

Overnight, Wall Street lost ground on news U.S. President Donald Trump called for Iran's "unconditional surrender" and warned people in Tehran to evacuate immediately.

Iran has been engaging in a military conflict with Israel after the latter conducted pre-emptive airstrikes on Iranian nuclear facilities earlier this week.

In Seoul, tech behemoth Samsung Electronics gained 0.6 percent, and its chipmaking rival SK hynix rose 0.3 percent.

Top internet portal operator Naver jumped 6.3 percent, while Kakao, the operator of the country's dominant mobile messenger, advanced 2.9 percent.

Major shipbuilder Hanwha Ocean climbed 2.07 percent.

However, leading automaker Hyundai Motor lost 1.46 percent, and its sister Kia went down 1.2 percent.

Bio giant Samsung Biologics also declined 1.09 percent.

The local currency was trading at 1,375.6 won against the greenback at 9:15 a.m., sharply down by 12.9 won from the previous session.

Yonhap