Seoul: South Korean stocks opened lower Monday as investor sentiment remained cautious amid renewed uncertainty over the fragile U.S.-Iran ceasefire and rising oil prices. After opening 0.91 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) further lost 177.54 points, or 2.11 percent, to 8,244.67 as of 9:15 a.m.

According to Yonhap News Agency, oil prices climbed after the U.S. and Iran exchanged fresh strikes over the weekend, raising renewed concerns over energy supplies and shipping traffic through the Strait of Hormuz. The two sides agreed to halt recent hostilities in the Gulf and renew talks, according to reports.

On Friday, the S and P 500 slipped 0.05 percent and the Nasdaq composite declined 0.24 percent, while the Dow Jones Industrial Average fell 0.09 percent. Investors also sat on the sidelines as the country's top two major chipmakers -- Samsung Electronics and SK hynix -- are set to unveil major long-term investment plans at a meeting chaired by President Lee Jae Myung later in the day, including large-scale infrastructure investments to expand South Korea's semiconductor production capacity.

Market bellwether Samsung Electronics sank 3.98 percent, and chip giant SK hynix retreated 3.33 percent. Samsung Electro-Mechanics, an electronic components manufacturing affiliate of Samsung Electronics, rose 4.52 percent, and battery maker LG Energy Solution gained 4.22 percent.

The Korean won was trading at 1,538.4 won against the U.S. dollar, down 6.4 won from the previous session, as of 9:15 a.m.