The benchmark KOSPI and won-dollar exchange rate are displayed at a dealing room of Hana Bank in Seoul, Thursday. Yonhap
Seoul shares extended losses late Thursday morning, led by chip stocks, as the escalating conflict in the Middle East renewed concerns over energy supplies from the region.
After opening 4.45 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended its losses, falling 521.49 points, or 7.16 percent, to 6,762.92 as of 11:20 a.m.
The Korea Exchange, the country's bourse operator, activated a sell-side sidecar on the KOSPI for 20 minutes at around 9:10 a.m. after the benchmark index fell more than 5 percent.
On Wednesday, the index surged 6.24 percent as softer-than-expected U.S. inflation data eased concerns about near-term Federal Reserve interest rate hikes.
