Seoul shares open lower on inflation, Mideast woes

Seoul shares began the trading day on a downward trajectory on Monday, pressured by technology sector losses and mounting concerns about inflation driven by high oil prices and the escalating Middle East crisis. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 83.72 points, or 1.26 percent, to 6,542.21 by 9:15 a.m., despite Wall Street's overnight gains.

The Dow Jones Industrial Average climbed 0.83 percent, while the tech-heavy Nasdaq Composite increased 0.64 percent. Oil prices surged as tensions in the Middle East intensified following new Houthi attacks on Saudi Arabia's main airport over the weekend. A wider conflict in the region could exacerbate energy supply disruptions, fuel inflation, and compel the Federal Reserve to hike interest rates.

Notable decliners included Samsung Electronics, which fell 0.95 percent, and its chipmaking competitor SK hynix, down 2.71 percent. Defense firm Hanwha Aerospace dropped 2.13 percent, and shipbuilder HD Hyundai Heavy Industries plummeted 4.04 percent. Among the gainers, Hyundai Motor topped the list with a 1.46 percent rise, whereas shipping firm HMM fell 3.49 percent.

The Korean won was trading at 1,338.65 won per U.S. dollar, up 3.35 won from the previous session's close.