SEOUL — South Korean stocks fell sharply late Tuesday morning as tensions between Iran and Israel escalated, affecting global market sentiment.
According to Yonhap News Agency, the Korea Composite Stock Price Index (KOSPI) dropped 66.14 points, or 2.48 percent, to 2,604.29 by 11:20 a.m. The decline was led by major technology firms, with Samsung Electronics and SK hynix experiencing losses of 3.16 percent and 5.05 percent, respectively.
Other sectors also faced downward pressure; battery manufacturers like LG Energy Solution and Samsung SDI saw declines of 1.34 percent and 1.9 percent, respectively. Financial institutions were not spared, as KB Financial and Shinhan Financial recorded decreases of 2.57 percent and 2.49 percent. Additionally, energy firms including SK Innovation and S-Oil also traded lower. The South Korean won weakened against the dollar, trading at 1,399.2 won, down by 7.4 won from the previous session’s close.