South Korean Stocks Plunge as Middle East Tensions Dampen Investor Sentiment

Deep News
Mar 03

South Korean equities experienced a sharp decline in the first trading session after the Monday holiday, as escalating Middle East conflicts significantly weakened market confidence. According to FactSet data, the benchmark KOSPI index closed down 7.2% at 5,791.91 points, marking its largest single-day drop since August 5, 2024. Following heavy selling pressure, the country's stock market regulator briefly halted trading to curb volatility. Among index heavyweights, Samsung Electronics fell 9.9%, memory chipmaker SK Hynix plunged 11%, and automaker Hyundai Motor retreated 12%. Amid the risk-off mood, the South Korean won weakened against the U.S. dollar. The dollar was last quoted at 1,466.10 won, compared with 1,439.70 won on Friday evening.

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