South Korean stocks experienced a significant decline at the opening on Friday, fueled by heightened risk aversion due to renewed Middle East tensions.
The Korea Composite Stock Price Index (KOSPI) initially opened 2.93 percent lower and further plummeted by 165.49 points, or 3.03 percent, to reach 5,294.97 within the first five minutes of trading.
This downturn mirrors a sharp drop in US markets overnight, influenced by ambiguous statements from US President Donald Trump regarding the ongoing negotiations with Iran.
On Thursday, Trump issued a warning to Iranian negotiators, urging them to “get serious soon, before it is too late,” but later suggested that the US and Iran were engaged in “substantial talks.”
Adding to the uncertainty, the White House announced an extension of the waiver on Iranian power plants and energy infrastructure until April 6.
