Seoul stocks open lower on escalating Mideast tensions

Seoul stocks opened lower Friday as investors attempted to cash in recent gains amid escalating tensions between the United States and Iran.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 191.3 points, or 2.7 percent, to 6,905.59 as of 9:15 a.m.

Overnight, stocks on Wall Street slipped as the war in the Middle East shows little signs of ending.

The S&P 500 fell 1.21 percent, and the tech-heavy Nasdaq dipped 2.15 percent.

U.S.

President Donald Trump said in an interview with a media outlet he is considering a "massive attack" against Iran on a scale larger than strikes witnessed earlier.

Yemen Houthi fighters' claim they attacked ships in the Red Sea is further escalating the already volatile situation in the Middle East, pushing Brent crude futures above US$100 per barrel.

Most market heavyweights were trading lower.

Top-cap Samsung Electronics fell 3.15 percent, while industry rival SK hynix retreated 3.86 percent.

Carmaker Hyundai Motor slipped 5.21 percent, battery maker LG Energy Solutions dipped 3.59 percent, and major financial group KB Financial went down 4.76 percent.

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