Seoul: South Korean stocks started sharply lower Monday amid lingering volatility in the market sparked by the Middle East conflict and rising oil prices. The benchmark Korea Composite Stock Price Index (KOSPI) lost 319.5 points, or 5.72 percent, to 5,265.37 at the opening bell.
According to Yonhap News Agency, investors expressed concerns over instability in global energy prices, with the U.S. benchmark West Texas Intermediate (WTI) crude surpassing US$100 per barrel for the first time since July 2022 on Sunday (U.S. time).
The South Korean stock market suffered extreme volatility last week, dipping more than 10 percent.