Seoul stocks sharply down late Mon. morning amid Mideast uncertainties, AI warning
Officials work at a dealing room of Hana Bank in Seoul, Monday. Yonhap
Seoul stocks were trading sharply lower, as uncertainties in the Middle East and artificial intelligence (AI)-related warnings dampened investor sentiment.
After opening over 3 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) fell 151.27 points, or 2.19 percent, to 6,758.64, as of 11:27 a.m.
Investors remained on the sidelines as anticipated Iran-Gulf talks on navigation in the Strait of Hormuz were postponed.
Also, warnings from AI firms' executives over the pace of technology development dampened investor sentiment.
Market top-cap Samsung Electronics fell 2.31 percent, and its rival SK hynix dipped 4.3 percent.
Battery maker LG Energy Solution retreated 1.11 percent, carmaker Hyundai Motor tumbled 3.01 percent, while defense giant Hanwha Aerospace strengthened 4.07 percent.
The Korean won was quoted at 1,344.3 won against the U.S. dollar, up 0.2 won from the close of the previous stock trading session.