Seoul: South Korean stocks began the trading session with a significant drop, reflecting investor concerns over recent U.S. and Israeli air strikes on Iran. The benchmark Korea Composite Stock Price Index (KOSPI) opened down by 78.98 points, or 1.26 percent, settling at 6,165.15 at 9 a.m.
According to Yonhap News Agency, the index continued to decline, reaching 6,100.61 by 9:13 a.m. The decline follows coordinated military actions by the United States and Israel against Iran over the weekend, which resulted in the death of Tehran's Supreme Leader Ayatollah Ali Khamenei. U.S. President Donald Trump has suggested that the operations may continue for an extended period.
In the South Korean market, most shares opened in the red. Samsung Electronics, a major player in the chip industry, saw its shares fall by 3.93 percent, while competitor SK hynix experienced a 3.68 percent decline. Hyundai Motor, a leading car manufacturer, dropped by 4.75 percent, and LG Energy Solution, a prominent battery maker, decreased by 4.1 percent.
The local currency also faced pressure, trading at 1,462.95 won against the U.S. dollar at 9:15 a.m., a decline of 23.2 won from the previous session.