▲ This AFP photo shows supporters of Hezbollah holding portraits of assassinated Iranian Supreme Leader Ayatollah Khamenei in the southern suburbs of Beirut, Lebanon, while celebrating the ceasefire with Israel as it takes effect on April 17, 2026. (Yonhap)

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Seoul shares start lower on profit-taking amid Mideast peace hopes

SEOUL, April 17 (Yonhap) -- South Korean stocks opened lower Friday on profit-taking following a recent rally amid optimism over easing tensions in the Middle East.

After opening 0.02 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) fell 34.82 points, or 0.56 percent, to 6,191.23 in the first 15 minutes of trading.

The index has risen for three consecutive sessions, closing above the 6,200-point mark Thursday for the first time since the outbreak of the U.S.-Iran conflict on Feb. 28.

Overnight, Trump said the next meeting between the United States and Iran could take place over the weekend while also noting that Israel and Lebanon had agreed to a 10-day ceasefire.

On Wall Street, three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.24 percent, and the S&P 500 gained 0.26 percent. The tech-heavy Nasdaq Composite added 0.36 percent.

In Seoul, tech and financial shares led the weak opening.

Market bellwether Samsung Electronics fell 0.92 percent, and chip giant SK hynix lost 1.13 percent.

Major banking groups Woori Financial Group and Shinhan Financial Group declined 0.7 percent and 0.3 percent, respectively.

Bio giant Samsung Biologics retreated 1.42 percent, and flag air carrier Korean Air dropped 1.39 percent.

However, top carmaker Hyundai Motor rose 0.94 percent, and its sister Kia gained 0.44 percent.

The local currency was trading at 1,479.45 won against the U.S. dollar at 9:15 a.m., down 4.85 won from the previous session.

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