Kospi slips as oil fuels inflation fears

Stocks opened lower Monday, as losses in technology stocks weighed on the market amid inflation concerns stoked by elevated oil prices and the escalating Middle East crisis.

The Kospi fell 47.76 points, or 0.72 percent, to 6,578.17 at the opening bell.

The decline came despite overnight gains on Wall Street.

The Dow Jones Industrial Average rose 0.83 percent on Friday, while the tech-heavy Nasdaq Composite climbed 0.64 percent.

Yonhap