Seoul shares open sharply lower as tech losses deepen 

Korean stocks opened sharply lower Thursday, driven by losses in some big technology companies on Wall Street amid signs of progress on the Strait of Hormuz.

After opening 1.81 percent lower, the Kospi shed 105.95 points, or 1.61 percent, to 6,492.31 as of 9:15 a.m.

Overnight, U.S. stocks finished mixed.

While the Dow Jones Industrial Average rose 0.49 percent, the tech-heavy Nasdaq composite lost 0.83 percent, weighed down by big technology companies losing ground, including Alphabet, Google's parent company, and Advanced Micro Devices.

News outlets reported that Iran and Oman have agreed on a route for ships transiting the Strait of Hormuz, with Tehran exercising control of the crucial waterway.

In Seoul, tech shares led the decline.

Samsung Electronics fell 1.52 percent, and SK hynix slumped 5.22 percent.

Naver and Kakao declined 1.31 percent and 1.05 percent, respectively.

However, carmaker Hyundai Motor rose 0.49 percent, and shipbuilder HD Hyundai Heavy Industries gained 1.38 percent.

The local currency rose 0.9 won from the previous day's close to trade at 1,424 won against the greenback at 9:15 a.m. 

Yonhap