Kospi opens lower due to uncertainty involving U.S.-Iran peace negotiations

Shares opened lower on Monday as uncertainty over U.S.-Iran peace negotiations intensified following U.S. President Donald Trump's continued threats against Tehran.

The Kopsi fell 124.2 points, or 1.37 percent, to 8,928.2 in the first 15 minutes of trading.

Overnight, the United States and Iran started negotiations in Switzerland, but Iran soon halted talks after Trump threatened strikes on Iran if Hezbollah kept attacking Israel.

Tehran earlier said that it will close the Strait of Hormuz over Israel's ongoing military campaign in Lebanon against the Iranian-backed Hezbollah militant group, citing the interim 60-day deal that stops conflict on all fronts.

In Seoul, major market heavyweights led the weak opening.

Samsung Electronics sank 2.68 percent, and SK hynix declined 0.07 percent.

Hyundai Motor retreated 3.92 percent, and Hanwha Ocean tumbled 7.87 percent. Samsung Electro-Mechanics fell 0.93 percent.

Yonhap