Seoul shares extend losses late Monday morning on tech sell-off

Seoul shares fell further late Monday morning due to a decline in technology stocks. This sell-off was fueled by concerns over inflation, partly caused by rising oil prices and escalating tensions in the Middle East. The losses are significant, with the Korea Composite Stock Price Index (KOSPI) dropping 2.28 percent to 6,474.95. The decline is also notable because it occurred despite gains on Wall Street on Friday, suggesting that investors are cautious about the global economic outlook.

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Seoul shares are declining due to elevated oil prices and escalating tensions in the Middle East. This is leading to a sell-off in technology stocks, which is driving the market downward.

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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to The Korea Times. For information only — not financial advice.