South Korean stocks opened lower on Friday, retreating after a significant 10 percent surge in the previous session, as ongoing tensions in Iran reignited concerns about potential disruptions to global oil supplies.
The benchmark Korea Composite Stock Price Index (KOSPI) initially fell by 1.66 percent. Within the first 15 minutes of trading, the index shed 24.51 points, a 0.44 percent decrease, settling at 5,559.39.
This week has been turbulent for the KOSPI, heavily impacted by the escalating Middle East conflict. The index experienced sharp declines of 7.24 percent and 12.06 percent on Tuesday and Wednesday, respectively, before rebounding with a substantial 9.63 percent gain on Thursday.
Overnight trading on Wall Street saw US stocks decline, as the intensifying Middle East conflict drove up oil prices and fueled worries about rising inflation.
The Dow Jones Industrial Average decreased by 1.61 percent, while the Nasdaq Composite closed down by 0.26 percent.
In Seoul, major stocks presented a mixed performance.
Market leader Samsung Electronics experienced a loss of 2.04 percent, and its rival in the chip manufacturing sector, SK hynix, fell by 1.81 percent.
KB Financial Group, a prominent banking institution, declined by 1.68 percent, and leading shipbuilder HD Hyundai Heavy Industries decreased by 1.25 percent.
However, top automotive manufacturer Hyundai Motor saw gains of 1.09 percent, and leading battery producer LG Energy Solution advanced by 1.75 percent.
Defense industry giant Hanwha Aerospace rose by 2.82 percent, while Kakao, the operator of the widely used KakaoTalk messenger application, jumped by 4.88 percent.
