SEOUL– South Korean stocks tumbled late Friday morning following reports that a nuclear plant in Ukraine had caught fire after an attack by Russian troops.
The benchmark Korea Composite Stock Price Index (KOSPI) slipped 30.25 points, or 1.1 percent, to 2,716.83 points as of 11:20 a.m.
Overnight, the tech-heavy Nasdaq composite lost 1.59 percent and the Dow Jones Industrial Average declined 1.76 percent, largely on concerns that the Ukraine tensions may push up commodity prices and hinder the global economic recovery.
Most stocks retreated in Seoul amid continued military tensions between Ukraine and Russia.
In Seoul, market bellwether Samsung Electronics lost 1.65 percent, and No. 2 chipmaker SK hynix slipped 2.71 percent.
Internet portal operator Naver retreated 1.54 percent, and top carmaker Hyundai Motor fell 1.69 percent. Leading chemical firm LG Chem tumbled 3.76 percent.
The local currency was trading at 1,210 won against the U.S. dollar, down 5.40 won from the previous session’s close.
Source: Yonhap News Agency