Seoul shares turn lower on tensions
Seoul shares weakened late Friday morning after opening higher, as renewed geopolitical tensions in the Middle East pressured investor sentiment. The benchmark Korea Composite Stock Price Index fell 36.07 points, or 0.57 percent, to 6,260.31 by 11:20 a.m.
The market had already suffered a sharp decline in the previous session, when the KOSPI dropped 4.58 percent. Technology stocks were the main drag on the earlier selloff.
Key Events
- Seoul shares opened 1.09 percent higher.
- The KOSPI reversed course and moved lower by late Friday morning.
- At 11:20 a.m., the index was down 36.07 points, or 0.57 percent, to 6,260.31.
- Renewed geopolitical tensions in the Middle East hurt investor sentiment.
- The previous session saw the KOSPI fall 4.58 percent, driven mainly by technology losses.
Seoul shares fall on Hormuz tensions
Seoul shares turned lower late Friday morning as renewed geopolitical tensions in the Middle East pressured investor sentiment. The market weakness was linked to fresh concerns around the Strait of Hormuz, which affected trading in Seoul, South Korea.
Key Events
- Seoul shares moved lower late Friday morning.
- Renewed geopolitical tensions in the Middle East weighed on investor sentiment.
- Market concern centered on tensions around the Strait of Hormuz in Seoul, South Korea.
US markets fall on higher oil prices
US financial markets ended Thursday in negative territory as higher oil prices and renewed concern about the Middle East weakened investor sentiment. The losses erased recent gains across major indices.
The S&P 500 fell 0.18 per cent to 7,709.96, and the Nasdaq Composite edged down 0.06 per cent to 26,348.35. The Dow Jones Industrial Average dropped 464.02 points, or 0.85 per cent, to 53,885.10, ending a five-session winning streak.
Within the S&P 500, only the energy and technology sectors posted gains, supported by the rise in crude prices.
Key Events
- US stocks closed lower on Thursday in New York.
- The S&P 500 fell 0.18 per cent to 7,709.96.
- The Nasdaq Composite slipped 0.06 per cent to 26,348.35.
- The Dow Jones Industrial Average dropped 464.02 points, or 0.85 per cent, to 53,885.10.
- The Dow’s five-day winning streak ended.
- Energy and technology were the only S&P 500 sectors to rise.