The Korea Times
KOSPI failed to extend its two-session winning streak Monday as the collapse of initial ceasefire talks between the United States and Iran, along with Washington’s subsequent move to impose a maritime blockade on Tehran, weighed on recently improved investor sentiment. The benchmark index opened at 5,737.28, down 121.59 points, or 2.08 percent, from the previous session, before closing at 5,808.62, down 50.25 points, or 0.86 percent. Secondary bourse Kosdaq also opened lower at 1,076.85, down 16.78 points, or 1.53 percent, but pared its losses to close at 1,099.84, up 6.21 points, or 0.57 percent, from the previous session. Rising tensions in the Middle East, which drove global oil prices above $100 per barrel, also put pressure on the Korean won. The currency opened at 1,495.4 won per dollar in the Seoul onshore foreign exchange market, weakening by 12.9 won from the previous session, and closed at 1,489.3 won. The won had stayed in the lower 1,480 range on Friday, the previous trading day, finishing regular trading at 1,482.5. However, the renewed downward pressure pushed it closer t
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