The Korea Times
Korean stocks turned lower late Tuesday morning after opening at a fresh peak of above 7,900 points and almost touching the unprecedented 8,000-point mark, as investors moved to take profit amid woes over little progress in peace talks between the United States and Iran. After rising as high as 7999.67 shortly after the opening bell, the benchmark Korea Composite Stock Price Index (KOSPI) had fallen 114.4 points, or 1.46 percent, to 7,707.84 as of 11:20 a.m., after falling as low as to 7,421.71. The KOSPI surged to an all-time high of 7,822.24 on Monday, ending above the 7,800 threshold for the first time in history, on the back of the extended rally of blue chip tech shares, including Samsung Electronics and SK hynix. It marked the fifth consecutive session the index gained ground. Following the record-breaking run, investors moved to take profit amid heightened uncertainties surrounding the U.S.-Israeli war against Iran, currently in a fragile ceasefire. Earlier in the day, Trump said he is considering renewing "Project Freedom," an initiative aimed at helping guide stranded vessels th
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