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Seoul stocks inch down late Monday morning as oil price woes continue
The Korean won dropped past 1,500 per dollar for the first time since 2009 amid Middle East tensions raising oil prices above $100 per barrel, impacting investor confidence.
8 Articles
8 Articles
War in the Middle East pushes oil prices upwards, which worries Stock Exchanges: Asian squares are still falling this Monday morning, with no one seeing a quick solution to the blockade of the Strait of Ormuz.
Seoul stocks inch down late Monday morning as oil price woes continue
Korean stocks traded slightly lower late Monday morning, as the ongoing conflict in the Middle East and a sharp rise in crude oil prices dampened investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) was down 7.53 points, or 0.14 percent, to 5,479.71 as of 11:20 a.m. The index turned south in late morning trading, after opening sharply higher above the 5,500 mark, as foreigners and institutional investors offloaded market h…
KOSPI Starts Slightly Higher... Exchange Rate Surpasses 1,500 Won. The KOSPI, Korea's representative stock index, opened slightly higher despite soaring oil prices. According to the Korea Exchange on the 16th, the KOSPI opened at 5,510.82, up 0.43% from the previous trading day. KOSPI market capitalization as of 9:05 AM.
[Digital Daily Reporter Kang Ki-hoon] The won-dollar exchange rate surpassed 1,500 won on the 16th. This is because international oil prices have exceeded $100 per barrel and are showing an upward trend due to the prolonged war with Iran. On this day, the won-dollar exchange rate in the Seoul foreign exchange market opened at 1,501.0 won, up 7.3 won from the previous day's weekly closing price (as of 3:30 PM). This marks the first time in 17 y…
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