Seoul shares open nearly flat amid geopolitical uncertainties

Seoul stocks opened nearly flat Friday, as investors sat on the sidelines amid the escalating geopolitical tensions in the Middle East. The benchmark Korea Composite Stock Price Index fell 0.02 percent, or 0.48 point, to 2,561.21 in the first 15 minutes of trading. Overnight, U.S. shares lost ground amid the growing conflict between Israel and Iran, with the Dow Jones Industrial Average losing 0.44 percent and the tech-heavy Nasdaq composite falling 0.04 percent. International benchmark Brent crude, meanwhile, soared 5.03 percent amid concerns that Israel may strike oil facilities in Iran. In Seoul, tech shares traded mixed, with top tech giant Samsung Electronics falling 0.33 percent while No. 2 chipmaker SK hynix gained 1.71 percent. Pharmaceutical firms started higher, with Samsung Biologics rising 3.17 percent and Celltrion advancing 0.89 percent. The local currency was trading at 1,332 won against the U.S. dollar, down 12.7 won from the previous session. Source: Yonhap News Agency