Seoul stocks opened with minimal change on Friday as investors remained cautious due to heightened geopolitical tensions in the Middle East. The Korea Composite Stock Price Index dropped by 0.02 percent in the initial 15 minutes of trading, reaching 2,561.21 points. This came after a decline in US shares overnight, attributed to the escalating conflict between Israel and Iran, leading to a 0.44 percent drop in the Dow Jones Industrial Average and a 0.04 percent decrease in the Nasdaq composite. Furthermore, concerns about a potential Israeli strike on Iranian oil facilities caused a 5.03 percent surge in the international benchmark Brent crude oil price. In the South Korean market, tech stocks showed mixed performance, with Samsung Electronics declining by 0.33 percent while SK hynix, the second-largest chipmaker, gained 1.71 percent. On the other hand, pharmaceutical companies saw positive movement, with Samsung Biologics rising by 3.17 percent and Celltrion advancing by 0.89 percent. The local currency was trading at 1,332 won against the US dollar, marking a 12.7 won decrease from the previous session.
Seoul stocks opened with minimal change on Friday as investors remained cautious due to heightened geopolitical tensions in the Middle East. The Korea Composite Stock Price Index dropped by 0.02 percent in the initial 15 minutes of trading, reaching 2,561.21 points. This came after a decline in US shares overnight, attributed to the escalating conflict between Israel and Iran, leading to a 0.44 percent drop in the Dow Jones Industrial Average and a 0.04 percent decrease in the Nasdaq composite. Furthermore, concerns about a potential Israeli strike on Iranian oil facilities caused a 5.03 percent surge in the international benchmark Brent crude oil price. In the South Korean market, tech stocks showed mixed performance, with Samsung Electronics declining by 0.33 percent while SK hynix, the second-largest chipmaker, gained 1.71 percent. On the other hand, pharmaceutical companies saw positive movement, with Samsung Biologics rising by 3.17 percent and Celltrion advancing by 0.89 percent. The local currency was trading at 1,332 won against the US dollar, marking a 12.7 won decrease from the previous session.