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피터빈트

Seoul stocks open sharply lower on Ukraine risk

By Yonhap

Published : Feb. 21, 2022 - 09:37

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An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)

South Korean stocks opened sharply lower Monday, as investors took to the sidelines over the Ukraine risk, which stemmed from concerns about Moscow's potential invasion of Ukraine.

The benchmark Korea Composite Stock Price Index (Kospi) lost 43.15 points, or 1.57 percent, to 2,701.37 points as of 9:18 a.m.

Most large caps traded lower in Seoul due to foreign and institutional sell-offs, with tech and chemical sectors leading the KOSPI's retreat.

Market bellwether Samsung Electronics decreased 2.02 percent, and No. 2 chipmaker SK hynix shed 3.04 percent.

Internet portal operator Naver declined 32.52 percent, and leading chemical firm LG Chem moved down 3.66 percent. Top carmaker Hyundai Motor lost 1.63 percent.

The local currency was trading at 1,198.85 won against the US dollar, down 2.95 won from the previous session's close. (Yonhap)

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