Seoul shares opened lower Friday as U.S. Treasury yields rose again and higher oil prices weighed on sentiment. The benchmark Korea Composite Stock Price Index fell 92.63 points, or 1.35 percent, to 6,759.95 at the opening bell. Overnight, the Dow Jones Industrial Average fell 1.32 percent, the S&P 500 slipped 0.87 percent and the Nasdaq Composite Index lost 1 percent. Brent crude rose more than 2 percent amid renewed U.S.-Iran tensions.
The benchmark KOSPI is displayed at a dealing room of Hana Bank in Seoul, Friday. Yonhap
Seoul shares opened lower Friday, tracking overnight losses on Wall Street as U.S. Treasury yields again rose and higher oil prices weighed on investor sentiment.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 92.63 points, or 1.35 percent, to 6,759.95 at the opening bell.
U.S. Treasury yields resumed their upward trend Thursday, reversing much of the previous day's decline following the U.S. Treasury's announcement of an expanded bond buyback plan.
