Kospi opens lower amid renewed Iran uncertainty

Stocks opened lower Monday as renewed Iran uncertainty kept investors cautious, even after SK hynix's strong Nasdaq debut helped lift U.S. markets.

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A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on July 13.

Stocks opened lower Monday as investors remained cautious amid increased Iran uncertainty despite SK hynix's successful U.S. listing last week.

The Kospi rose 63.91 points, or 0.85 percent, to 7,412.03 at the opening bell.

On Friday, U.S. stocks closed higher despite renewed tension regarding the Iran war, buoyed by Korean chipmaker SK hynix's multibillion-dollar U.S. share offering.

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SK hynix's American depositary receipts on the Nasdaq closed at $168 each, well above the offering price of $149.

The Dow Jones Industrial Average gained 0.29 percent to 52,637.01 points, while the tech-heavy Nasdaq composite also climbed 0.29 percent to 26,281.61.


Yonhap


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