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SEOUL, April 24 (Yonhap) — South Korean stocks started a tad lower Friday, retreating from their record-breaking rally as persistent tensions in the Middle East weighed on investor sentiment.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.21 points, or 0.11 percent, to 6,468.60 in the first 15 minutes of trading.
The decline followed overnight losses on Wall Street, where the Dow Jones Industrial Average slipped 0.36 percent and the tech-heavy Nasdaq Composite dropped 0.89 percent.
This photo, taken April 24, 2026, shows the dealing room of Hana Bank in Seoul. (Yonhap)
Investors took to the sidelines as peace talks between the U.S. and Iran showed little progress.
On Thursday (U.S. time), U.S. President Donald Trump said he had ordered the U.S. Navy to target any vessels laying mines in the strait, adding Iran is seeking a deal and talks are under way.
Also, Iran was activating its air defense system again, according to foreign reports.
But investors are pinning hopes that a potential second round of the peace talks would ease tensions in the Middle East and clear hurdles for the key shipping gateway, the Strait of Hormuz.
Trump also said Israel and Lebanon would extend their ceasefire by three weeks, easing a potential obstacle to efforts to end the conflict involving the U.S. and Iran.
Tech and auto stocks led the losses.
Market bellwether Samsung Electronics fell 2 percent, while chip giant SK hynix declined 0.08 percent.
Top automaker Hyundai Motor dropped 3.2 percent, and its sister affiliate Kia shed 2.21 percent.
Flag carrier Korean Air fell 0.6 percent, and Korea Aerospace Industries, the country’s sole aircraft manufacturer, plunged 7.23 percent.
Among gainers, defense giant Hanwha Aerospace Industries rose 5.26 percent, and LIG Defense and Aerospace jumped 4.66 percent.
The local currency was trading at 1,482.40 won against the greenback at 9:15 a.m., down 1.4 won from the previous session.
kyongae.choi@yna.co.kr
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