Seoul stocks open lower on Ukraine, inflation risks

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: April 1, 2022 | 11:05 AM

South Korean stocks opened lower Friday amid still ongoing tensions surrounding Ukraine and rising inflation risks.

The benchmark Korea Composite Stock Price Index fell 21.6 points, or 0.78 percent, to trade at 2,736.05 points as of 9:15 a.m.

Stocks dropped as Russia’s attack on the Ukrainian city of Mariupol fueled pessimism about the two country’s peace talks.

Most large caps traded lower in Seoul.

Market bellwether Samsung Electronics lost 0.72 percent, and No. 2 chipmaker SK hynix declined 0.85 percent.

Internet portal operator Naver shed 0.59 percent, with battery heavyweight LG Energy Solution sliding 0.9 percent. Bio heavyweight Samsung Biologics retreated 0.85 percent.

The local currency was trading at 1,215.85 won against the U.S. dollar, down 3.75 won from the previous session’s close. (Yonhap)

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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.