▲ This photo, taken July 16, 2026, shows the dealing room of Hana Bank in Seoul during morning trading hours. (Yonhap)

(ATTN: UPDATES with details in paras 2-3, 8-12; CHANGES photo)

SEOUL, July 16 (Yonhap) -- Seoul shares opened sharply lower as investors took profits in technology stocks amid concerns over the ongoing conflict in the Middle East.

After opening 4.45 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) extended losses, trading 383.87 points, or 5.27 percent, down 6,900.54 as of 9:15 a.m.

The Korea Exchange, the country's bourse operator, activated a sell-side sidecar for the KOSPI for 20 minutes at around 9:10 a.m. after the benchmark index fell more than 5 percent.

On Wednesday, the index spiked 6.24 percent as softer-than-expected U.S. inflation data eased concerns over near-term Federal Reserve rate hikes.

Overnight, the Dow Jones Industrial Average rose 0.29 percent to 52,658.64, while the tech-heavy Nasdaq Composite declined 0.62 percent to 26,269.23.

Concerns over artificial intelligence (AI) reemerged, sending major AI-related tech stocks on Wall Street lower overnight.

On Wednesday (U.S. time), the United States launched fresh strikes on Iran. The escalating conflict in the Middle East has revived concerns over energy supplies from the region.

Tech stocks led the decline.

Market bellwether Samsung Electronics plunged 6.98 percent, and its chipmaking rival SK hynix plummeted 10.18 percent.

Top carmaker Hyundai Motor fell 3.46 percent, and defense firm Hanwha Aerospace declined 0.32 percent.

Among gainers, shipbuilder Hanwha Ocean rose 2.2 percent, and shipping firm HMM climbed 1 percent.

The Korean won was trading at 1,485.75 won against the U.S. dollar, up 1.25 won from the previous session, as of 9:15 a.m.

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