Seoul stocks open lower amid uncertainty over Ukraine crisis

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: April 5, 2022 | 8:49 AM GMT

South Korean stocks opened lower Monday as investors unloaded large-cap shares, including tech issues, amid lingering uncertainties over the Ukraine crisis and inflation.

The benchmark Korea Composite Stock Price Index lost 11.51 points, or 0.42 percent, to trade at 2,728.34 points as of 9:15 a.m.

Investors took to the sidelines as the ongoing crisis surrounding Ukraine has deepened concerns over soaring energy prices and inflation. Moscow said Sunday that it attacked and destroyed key energy facilities in Ukraine.

Most major shares traded lower, with tech, auto and bio shares leading the decline.

Market bellwether Samsung Electronics lost 0.58 percent, and No. 2 chipmaker SK hynix fell 0.43 percent.

Key battery maker LG Energy Solution went down 0.47 percent, and bio heavyweight Samsung Biologics skidded 2.07 percent.

No. 1 carmaker Hyundai Motor Co. fell 1.4 percent and its affiliate Kia Corp. shed 0.4 percent.

The local currency was trading at 1,218.9 won against the US dollar, down 3.4 won from the previous session’s close. (Yonhap)

By Kim Young-won (wone0102@heraldcorp.com)

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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.