South Korean stocks open lower on U.S.-Iran tensions
Quick Look
South Korean stocks opened lower on Monday, with the KOSPI index dropping 1.08% following intensified uncertainty over U.S.-Iran peace negotiations after President Trump threatened strikes on Tehran.
AI-generated summary
Why It Matters
South Korean stocks opened lower as uncertainty over U.S.-Iran peace negotiations grew following President Trump's threats against Tehran.
SEOUL, June 22 (Yonhap) -- South Korean stocks opened lower Monday as uncertainty over U.S.-Iran peace negotiations intensified following U.S. President Donald Trump's continued threats on Tehran.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 97.99 points, or 1.08 percent, at 8,954.43 at the opening bell.
Overnight, the United States and Iran started negotiations in Switzerland, but soon Iran halted talks after Trump threatened strikes on Iran if Hezbollah keeps attacking Israel.
Tehran earlier said it will close the Strait of Hormuz over Israel's ongoing military campaign in Lebanon against the Iranian-backed Hezbollah militant group, citing the interim 60-day deal that stops conflict on all fronts.
Open Questions
- Will negotiations resume?
- What are the implications for oil prices?
- Will Hezbollah continue attacks?
