Seoul stocks slip after opening slightly higher as Iran concerns temper bargain hunting - The Korea Times

The benchmark KOSPI is displayed at a dealing room in Hana Bank, in Seoul, Tuesday. Yonhap

Seoul stocks opened slightly higher Tuesday but quickly turned lower as bargain hunting in battered tech heavyweights faded amid lingering concerns over escalating tensions in the Middle East.

After opening 0.58 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) trimmed earlier gains to fall 38.56 points, or 0.59 percent, to 6,477.71 as of 9:15 a.m.

The KOSPI shed 4.46 percent Monday, following a 6.37 percent fall Friday.

Overnight, major U.S. stock indexes closed lower as investors weighed the risk of renewed hostilities in the Middle East while awaiting earnings reports from major technology companies later this week.