Seoul Shares Fall 4.16 Percent While Some Energy Stocks Rise

Seoul shares extended losses on July 20 as the benchmark KOSPI fell 283.67 points, or 4.16 percent, to 6,536.93 by 11:20 a.m. The index opened 0.52 percent lower and continued downward after a 6.37 percent plunge in the prior session. Yonhap reported that the decline came as escalating conflict in the Middle East renewed concerns over energy supplies from the region.

Semiconductor stocks led the move lower, with Samsung Electronics shares down 4.5 percent and SK hynix shares off 4.4 percent. Hyundai Motor shares fell 6.59 percent while Hanwha Aerospace declined 4.03 percent. S-Oil shares rose 3.04 percent and KT shares gained 1.53 percent.

The Korean won traded at 1,482.90 per U.S. dollar, up 3.1 won from the previous session. On July 18 in the United States, the Dow Jones Industrial Average fell 0.77 percent and the Nasdaq Composite declined 1.4 percent.

A photograph taken the same morning showed the dealing room of Hana Bank in Seoul during active trading hours.