SEOUL, March 4 (Xinhua) -- South Korean stocks opened sharply lower Wednesday, extending losses from the previous session's 7-percent plunge amid escalating geopolitical tensions following U.S.-Israel air strikes on Iran.
The benchmark Korea Composite Stock Price Index (KOSPI) opened 3.44 percent lower at 5,592.59, down 199.32 points. As of 9:12 a.m. local time, the index was trading at 5,579.06, off 212.85 points, or 3.67 percent.
On Tuesday, the KOSPI tumbled 452.22 points, or 7.24 percent, to close at 5,791.91, as investor sentiment weakened on rising concerns over the expanding Middle East conflict.
The early sell-off on Wednesday triggered the sell sidecar once again after KOSPI 200 futures dropped more than 5 percent, the second sidecar activated this week.
A sell sidecar was also triggered the previous day under similar conditions. The measure entails a five-minute suspension of program trading when KOSPI 200 futures rise or fall by more than 5 percent for at least one minute.
The latest downturn follows coordinated U.S. and Israeli strikes on Iran over the weekend, which heightened uncertainty in global financial markets and prompted a reassessment of risk exposure. ■