South Korean Shares Dip 1.35% at Open Amid Rising Middle East Tensions and Oil Surpassing $100

Deep News07-24 08:20

South Korea's stock market opened lower on Friday as investors moved to lock in recent gains, driven by escalating tensions between the United States and Iran.

The Korea Composite Stock Price Index (KOSPI) fell by 96.11 points, or 1.35%, to open at 7,000.78 points.

With the situation in the Middle East remaining uncertain, Wall Street experienced a significant sell-off overnight. The S&P 500 dropped 1.21%, while the tech-heavy Nasdaq composite declined by 2.15%.

In a media interview, U.S. President Donald Trump stated he is considering a "major attack" on Iran, potentially larger than previous strikes.

Yemen's Houthi group claimed responsibility for an attack on vessels in the Red Sea, further destabilizing the already volatile Middle East region. This development pushed Brent crude oil futures above the $100 per barrel mark.

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