Stocks open flat on U.S. rate hike owes, worries over Israel-Hamas war

The benchmark Kospi lost 1.75 points, or 0.07 percent, to 2,373.25 in the first 15 minutes of trading.

A screen in Hana Bank's trading room in central Seoul shows stock market open on Monday. [YONHAP]

Stocks opened flat on Monday on escalating geopolitical tensions and continued worries about the U.S. Federal Reserve going for more rate hikes.

The benchmark Kospi lost 1.75 points, or 0.07 percent, to 2,373.25 in the first 15 minutes of trading.

All three major U.S. indexes closed lower Friday amid conflicts in the Middle East and expectations the Fed will continue its rate hikes.

In Seoul, market bellwether Samsung Electronics added 0.29 percent, and the country's No. 2 chipmaker SK hynix gained 0.4 percent.

Auto shares also opened higher, with Hyundai Motor up 0.71 percent and its smaller affiliate Kia up 1.22 percent, following reports Hyundai will build a factory in Saudi Arabia in a joint investment with Saudi's Public Investment Fund.

But battery shares opened lower, with industry leader LG Energy Solution down 0.23 percent and its rival Samsung SDI down 1.56 percent.

The local currency was trading at 1,351.80 won against the U.S. dollar at 9:15 a.m., up 0.6 won from the previous session's close.

BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]