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Seoul stocks open sharply lower over escalating Ukraine tensions

By Yonhap

Published : Feb. 22, 2022 - 09:34

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

South Korean stocks opened sharply lower Tuesday as Russia sent in forces to parts of Ukraine.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 42.05 points, or 1.53 percent, to 2,701.75 points as of 9:15 a.m.

Investors dumped local stocks following reports that Russian dispatched what it called "peacekeeping forces" to eastern Ukraine.

Most large caps slumped in Seoul, led by foreign sell-offs.

Market bellwether Samsung Electronics decreased 1.89 percent, and No. 2 chipmaker SK hynix shed 1.54 percent.

Internet portal operator Naver declined 2.36 percent, and leading chemical firm LG Chem moved down 3.08 percent. Top carmaker Hyundai Motor lost 2.16 percent.

The local currency was trading at 1,195.7 won against the US dollar, down 3.6 won from the previous session's close. (Yonhap)

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