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South Korean Shares Slide at Open on Renewed US-Iran Tensions

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South Korean shares opened sharply lower on Wednesday on renewed US-Iran tensions.

The benchmark Korea Composite Stock Price Index, or Kospi, fell 2.4%, or 197.16 points, to open at 7,899.77. The Kosdaq also declined 0.95%, or 9.22 points, to open at 958.58.

Sentiment turned cautious after the US military's Central Command (CENTCOM) said it carried out self-defense strikes against Iran after Iranian forces allegedly shot down a U.S. attack helicopter over the Strait of Hormuz on Monday.

Major heavyweight stocks led the losses in early trading, with Samsung Electronics (KRX:005930) shares declining over 4% and SK Hynix (KRX:000660) shares falling nearly 4%.

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