Seoul: South Korean stocks started 1.66 percent lower Friday after a 10 percent gain the previous session as a prolonged Iran crisis rekindled oil supply woes. The benchmark Korea Composite Stock Price Index (KOSPI) opened at 5,491.02, down 92.88 points from the previous session.
According to Yonhap News Agency, the index has experienced significant fluctuations this week due to the Middle East conflict, with a sharp decline of 7.24 percent on Tuesday and 12.06 percent on Wednesday. This was followed by a substantial recovery of 9.63 percent on Thursday, reflecting the ongoing volatility in the market amid the geopolitical tensions surrounding the Iran crisis.