Seoul:Shares in Seoul opened lower on Monday as technology stocks faced losses, influenced by ongoing inflation concerns due to high oil prices and the escalating crisis in the Middle East.

According to Yonhap News Agency, the benchmark Korea Composite Stock Price Index (KOSPI) fell by 47.76 points, or 0.72 percent, reaching 6,578.17 at the start of trading.

This downward movement occurred despite gains seen in the U.S. markets. On Friday, the Dow Jones Industrial Average rose by 0.83 percent, and the Nasdaq Composite increased by 0.64 percent.