The KOSPI opened at 6,784.29 on the 1st, down 35.73 points, or 0.52%, as renewed U.S.-Iran hostilities and the Federal Reserve's hawkish interest-rate outlook weakened investor sentiment. Foreigners and institutions were net sellers of 180 billion Korean won and 170 billion Korean won worth of shares, respectively, while individuals bought 330 billion Korean won. Major KOSPI stocks declined, including Samsung Electronics, SK Hynix, LG Energy Solution, Samsung Biologics, KB Financial and LG Electronics. The weakness followed declines on Wall Street, where the Dow Jones Industrial Average fell 0.70%, the S&P 500 dropped 0.33% and the Nasdaq declined 0.12% on the 31st local time. Large-scale U.S.-Iran airstrikes involving the Strait of Hormuz and U.S. military bases escalated Middle East tensions, while U.S. President Donald Trump's warning of massive retaliation helped drive October-delivery West Texas Intermediate crude oil 2.83% higher to $85.76 a barrel. Federal Reserve governor Kevin Warsh also indicated that additional rate hikes could be considered at the September Federal Open Market Committee meeting if confidence in slowing inflation is lacking. The KOSDAQ opened at 831.96, down 2.33 points, or 0.28%, with foreigners and institutions selling 30 billion Korean won and 18 billion Korean won, respectively, while individuals bought 50 billion Korean won. Its major market-cap-weighted stocks, including Alteogen, EcoPro BM, EcoPro and LigaChem Biosciences, were lower as of 9:02 a.m.