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Kopsi opens lower on profit-taking amid Mideast peace hopes

Published: 17 Apr. 2026, 09:48

The Kospi starts lower on the morning of April 17. Numbers are shown on a dashboard inside a dealing room in Hana Bank in Jung District, central Seoul. [YONHAP]

Korean stocks opened lower Friday on profit-taking following a recent rally amid optimism over easing tensions in the Middle East.

After opening 0.02 percent higher, the benchmark Korea Composite Stock Price Index (Kospi) fell 34.82 points, or 0.56 percent, to 6,191.23 in the first 15 minutes of trading.

The index has risen for three consecutive sessions, closing above the 6,200-point mark Thursday for the first time since the outbreak of the U.S.-Iran conflict on Feb. 28.

Overnight, Trump said the next meeting between the United States and Iran could take place over the weekend while also noting that Israel and Lebanon had agreed to a 10-day cease-fire.

On Wall Street, three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.24 percent, and the S&P 500 gained 0.26 percent. The tech-heavy Nasdaq Composite added 0.36 percent.

In Seoul, tech and financial shares led the weak opening.

Market bellwether Samsung Electronics fell 0.92 percent, and chip giant SK hynix lost 1.13 percent. Major banking groups Woori Financial Group and Shinhan Financial Group declined 0.7 percent and 0.3 percent, respectively. Bio giant Samsung Biologics retreated 1.42 percent, and flag air carrier Korean Air dropped 1.39 percent.

However, top carmaker Hyundai Motor rose 0.94 percent, and its sister Kia gained 0.44 percent.

The local currency weakened by 4.85 won to trade at 1,479.45 won against the U.S. dollar at 9:15 a.m.

Yonhap