Seoul shares open lower amid escalating Middle East tensions

Seoul shares opened lower Wednesday tracking overnight losses on Wall Street amid growing concerns over an all-out war in the Middle East after Iran attacked Israel with missiles. The benchmark Korea Composite Stock Price Index fell 0.89 percent, or 23.04 points, to 2,570.23 in the first 15 minutes of trading. Overnight, U.S. shares tumbled after Iran fired missiles directly at Israel, with the Dow Jones Industrial Average losing 0.41 percent and the tech-heavy Nasdaq composite plunging 1.53 percent. In Seoul, top tech giant Samsung Electronics moved down 1.3 percent and No. 2 chipmaker SK hynix lost 1.66 percent. Leading carmaker Hyundai Motor slipped 2.25 percent and Kia decreased 1.3 percent. Auto parts maker Hyundai Mobis shed 2.07 percent. The local currency was trading at 1,321.6 won against the U.S. dollar, down 13.8 won from the previous session. Source: Yonhap News Agency