South Korean stocks opened lower on Friday after a recent rally and renewed military tensions in the Middle East following clashes between the United States and Iran.
The benchmark Korea Composite Stock Price Index opened at 7,326.06 as of 9:15 a.m., down 163.99 points or 2.19 percent. It had closed at a fresh record high of 7,490.05 on Thursday after three straight sessions of gains.
Overnight clashes between the U.S. and Iran in the Strait of Hormuz weighed on sentiment. Iran claimed the U.S. targeted its ships, while the U.S. military said it acted in self-defense after attacks on its navy destroyers.
Samsung Electronics fell 3.5 percent and SK hynix declined 2.72 percent. LG Energy Solution, Doosan Enerbility and HD Hyundai Heavy Industries also traded lower. The Korean won weakened 7.15 won to 1,461.15 against the dollar.
