Seoul stocks open lower on inflation woes
Summary
Seoul stocks opened lower Tuesday as rising oil prices and Middle East tensions fueled inflation worries and pushed U.S. Treasury yields higher. The KOSPI fell 13.31 points, or 0.19 percent, to 6,876.43 as of 9:15 a.m. Overnight, U.S. stocks also retreated. Samsung Electronics and SK hynix rose, while Hyundai Motor and LG Energy Solution fell.
Key Facts
- The benchmark KOSPI fell 13.31 points, or 0.19 percent, to 6,876.43 as of 9:15 a.m.
- The U.S. 10-year Treasury yield rose to 5.23 percent and the 30-year yield climbed to 5.55 percent.
- The S&P 500 fell 0.77 percent, the Dow Jones Industrial Average slipped 0.67 percent, and the Nasdaq composite decreased 0.92 percent.
- Samsung Electronics gained 0.93 percent and SK hynix edged up 0.11 percent, while Hyundai Motor shed 1.4 percent and LG Energy Solution declined 2.57 percent.
- The Korean won was trading at 1,359.6 won against the U.S. dollar, up 0.3 won from the previous close.

The benchmark KOSPI is diplayed at a dealing room of Hana Bank in Seoul, Tuesday. Yonhap
Korean stocks opened lower Tuesday, tracking Wall Street losses as rising oil prices fueled inflation concerns and lifted U.S. Treasury yields amid tensions in the Middle East.
The benchmark Korea Composite Stock Price Index, or KOSPI, fell 13.31 points, or 0.19 percent, to 6,876.43 as of 9:15 a.m.
Overnight, U.S. stocks retreated as renewed tensions between the United States and Iran drove crude oil prices higher, fueling concerns that higher energy costs could keep inflation and interest rates high.
Treasury yields extended their climb, with the benchmark 10-year yield rising to 5.23 percent and the 30-year yield climbing to 5.55 percent, hovering around multiyear highs.
The S&P 500 fell 0.77 percent, the Dow Jones Industrial Average slipped 0.67 percent, and the tech-heavy Nasdaq composite decreased 0.92 percent.
Market heavyweights were mixed.
Market bellwether Samsung Electronics gained 0.93 percent, and chip giant SK hynix inched up 0.11 percent.
In contrast, leading automaker Hyundai Motor shed 1.4 percent, while battery maker LG Energy Solution declined 2.57 percent.
The Korean won was trading at 1,359.6 won against the U.S. dollar, up 0.3 won from the close of the previous trading session.
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