Seoul: South Korean stocks opened over 1 percent lower Monday over heightened Middle Eastern uncertainties following the United States' bombing attacks on key Iranian nuclear facilities over the weekend. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 38.17 points, or 1.26 percent, to 2,983.67 in the first 15 minutes of trading.
According to Yonhap News Agency, the U.S. engaged itself in the Israel-Iran conflict by using B-2 bombers to launch air strikes on three key nuclear sites in Iran on Saturday. President Donald Trump described the operation as "successful" and claimed the Iranian sites were "obliterated."
Most blue chips lost ground, with market heavyweight Samsung Electronics plunging 2.61 percent and chip rival SK hynix sliding 2.53 percent. Top bio company Samsung Biologics dropped 1.77 percent, and leading battery manufacturer LG Energy Solution plummeted 3.61 percent. Top automaker Hyundai Motor retreated 4.05 percent.
In contrast, refiners and internet portal operators advanced. Leading refiner SK Innovation jumped 3.71 percent, and top internet portal firm Naver gained 1.86 percent.
The local currency was trading at 1,379.3 won against the greenback at 9:15 a.m., down sharply by 13.7 won from the previous session.