Seoul stocks fell sharply late Monday morning, with the benchmark KOSPI down 2.19 percent at 6,758.64 at 11:27 a.m. Market sentiment weakened after anticipated Iran-Gulf talks on navigation in the Strait of Hormuz were postponed and AI-related warnings from company executives added pressure. Samsung Electronics, SK hynix, LG Energy Solution and Hyundai Motor all declined, while Hanwha Aerospace rose. The won was quoted at 1,344.3 against the U.S. dollar.
Officials work at a dealing room of Hana Bank in Seoul, Monday. Yonhap
Seoul stocks were trading sharply lower, as uncertainties in the Middle East and artificial intelligence (AI)-related warnings dampened investor sentiment.
After opening over 3 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 151.27 points, or 2.19 percent, to 6,758.64, as of 11:27 a.m.
Investors remained on the sidelines as anticipated Iran-Gulf talks on navigation in the Strait of Hormuz were postponed.
