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(LEAD) Seoul shares plunge over 3 pct on tech sell-off amid Mideast, inflation woes

SEOUL, Oct. 12 (Yonhap) -- Seoul shares plunged more than 3 percent Monday, exte...

Yonhap NewsChoi Kyong-ae查看原文 ↗
This photo, taken Oct. 12, 2026, shows the dealing room of Hana Bank in Seoul after the market opened. (Yonhap)
This photo, taken Oct. 12, 2026, shows the dealing room of Hana Bank in Seoul after the market opened. (Yonhap)

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SEOUL, Oct. 12 (Yonhap) -- Seoul shares plunged more than 3 percent Monday, extending their losing streak to a fourth session, as a massive sell-off in technology stocks fueled by inflation concerns weighed on the market amid elevated oil prices.

The Korean won rose against the U.S. dollar.

After opening 0.07 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses to close down 241.69 points, or 3.65 percent, at 6,384.24.

Trade volume was moderate at 313 million shares worth 21.33 trillion won (US$16 billion), with decliners outnumbering advancers 717 to 166.

Institutions and foreigners sold a net 110.65 billion won and 2.02 trillion won worth of stocks, respectively, while individuals bought a net 1.47 trillion won.

"The KOSPI plunged amid rebalancing of semiconductor-focused exchange-traded funds (ETFs) and concerns that Samsung Electronics and SK hynix may have completed their treasury stock purchases," Lim Seung-mi, an analyst at Hana Securities Co., said in her research note.

Oil prices rose amid escalating tensions in the Middle East following renewed Houthi attacks on Saudi Arabia's main airport over the weekend.

A broader regional conflict could further disrupt energy supplies, adding to inflationary pressures and complicating the Federal Reserve's efforts to bring inflation under control, analysts said.

In Seoul, tech stocks led the decline.

Market behemoth Samsung Electronics fell 4.39 percent to 250,500 won, and its chipmaking rival SK hynix declined 4.52 percent to 1.6 million won.

Defense giant Hanwha Aerospace dropped 3.25 percent to 862,000 won, and top carmaker Hyundai Motor shed 1.39 percent to 320,000 won.

Among gainers, shipping firm HMM rose 4.81 percent to 21,800 won and dominant tobacco company KT&G climbed 1.58 percent to 180,200 won.

The Korean won was quoted at 1,335.1 won against the U.S. dollar as of 3:30 p.m., compared to 1,342.8 won from the previous stock trading session's close.

This photo, taken Oct. 12, 2026, shows the dealing room of Hana Bank in Seoul after the market opened. (Yonhap)

kyongae.choi@yna.co.kr (END)

(LEAD) Seoul shares plunge over 3 pct on tech sell-off amid Mideast, inflation woes

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