Seoul shares down Tues. morning on renewed military tensions in Mideast
SEOUL, Sept. 1 (Yonhap) -- South Korean stocks traded lower late Tuesday morning...
South Korean stocks declined on Tuesday morning due to heightened military tensions in the Middle East. The Korea Composite Stock Price Index (KOSPI) slipped 0.16 percent to 6,809.04. Worries over escalating conflicts between the U.S. and Iran led to a drop in major U.S. stocks, with the Dow Jones Industrial Average falling 0.7 percent and the S&P 500 down 0.33 percent.
Despite the overall market downturn, certain South Korean firms showed resilience. Hyundai Motor and POSCO Holdings, in particular, saw significant gains, with the former down 1.36 percent and the latter surging 2.07 percent. The Korean won weakened against the U.S. dollar, closing at 1,369.85 won, a drop of 0.55 won from the previous session.
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