(LEAD) Seoul shares start sharply lower on tech losses amid Hormuz hopes

SEOUL, Aug. 6 (Yonhap) -- South Korean stocks plunged early Thursday, plummeting 1.61 percent as tech sector losses on Wall Street overshadowed progress on the Strait of Hormuz. The Korea Composite Stock Price Index (KOSPI) dropped 105.95 points, or 1.61 percent, to 6,492.31 at 9:15 a.m. despite the Dow Jones Industrial Average gaining 0.49 percent. The tech-heavy Nasdaq Composite fell 0.83 percent, dragged down by major technology firms such as Alphabet and Advanced Micro Devices.

The news of an agreement between Iran and Oman on a route for ships through the Strait of Hormuz loomed large, with Tehran asserting control over the vital waterway. Samsung Electronics and its chipmaker SK hynix suffered the most significant declines, falling 1.52 percent and 5.22 percent, respectively. Internet companies Naver and Kakao also dipped 1.31 percent and 1.05 percent.

However, Hyundai Motor and HD Hyundai Heavy Industries bucked the trend, with the carmaker up 0.49 percent and the shipbuilder rising 1.38 percent.

The Korean won strengthened against the U.S. dollar, trading at 1,424 won per dollar by 9:15 a.m., up 0.9 won from the previous day's close.