South Korean stocks opened lower on Monday amid renewed uncertainty over the U.S.-Iran ceasefire and rising oil prices.
The benchmark Korea Composite Stock Price Index opened 0.91 percent lower at 8,334.28 before falling further to 8,244.67, down 177.54 points or 2.11 percent, as of 9:15 a.m.
Oil prices climbed after the United States and Iran exchanged fresh strikes over the weekend, raising concerns over energy supplies and shipping through the Strait of Hormuz. The two sides agreed to halt hostilities in the Gulf and renew talks, according to reports.
Samsung Electronics and SK hynix are set to unveil major long-term investment plans later in the day at a meeting chaired by President Lee Jae Myung. Samsung Electronics sank 3.98 percent and SK hynix retreated 3.33 percent.
The Korean won traded at 1,538.4 won against the U.S. dollar, down 6.4 won from the previous session, as of 9:15 a.m.
