South Korean stocks opened sharply lower on Wednesday, tracking overnight losses on Wall Street and uncertainties over peace talks between the United States and Iran.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 129.5 points, or 1.69 percent, to 7,513.65 at the opening bell. It later dropped further to 7,446.9 within the first 15 minutes of trading, ending a five-day winning streak.
Investors reacted to tech share declines on Wall Street, where the Nasdaq composite closed 0.71 percent lower. Concerns also grew over a faster-than-estimated rise in U.S. inflation for April, driven mainly by higher oil prices amid the U.S.-Israeli conflict with Iran.
Samsung Electronics shares slid 5.29 percent, while SK hynix fell 2.18 percent. The Korean won traded at 1,494 won against the U.S. dollar, down 4.1 won from the previous session.
