Seoul shares extended losses late Thursday morning as surging oil prices and Middle East tensions fueled inflation concerns ahead of key U.S. inflation data. The benchmark KOSPI fell 90.41 points, or 1.28 percent, to 6,961.23 at 11:20 a.m. Institutions and foreign investors were net sellers, while retail investors bought stocks. Tech stocks led the decline, with Samsung Electronics, SK hynix, Hyundai Motor and LG Energy Solution all lower.
A screen at the dealing room of Hana Bank’s headquarters in Seoul shows the exchange rate, the KOSPI and Kosdaq indices, Thursday. Yonhap
Seoul shares extended their losses late Thursday morning, as surging oil prices, driven by intensifying tensions in the Middle East, stoked inflation concerns ahead of key U.S. inflation data.
After opening 0.18 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 90.41 points, or 1.28 percent, to 6,961.23 as of 11:20 a.m.
Institutions and foreign investors sold a net 1.01 trillion won ($755 million) and 496.38 billion won worth of stocks, respectively, while retail investors bought a net 871.89 billion won worth of stocks.
