South Korean Shares Extend Losses on US-Iran Uncertainty

The benchmark KOSPI fell more than 1% to around 8,300 on Monday, extending losses from the previous session, as renewed uncertainty over the fragile US-Iran ceasefire lifted oil prices and dampened global risk sentiment. The United States and Iran exchanged fresh strikes over the weekend, while Iran canceled scheduled technical talks with Washington, reinforcing concerns over the ceasefire and potential disruptions to energy supplies and shipping through the Strait of Hormuz. Meanwhile, investors awaited President Lee Jae Myung’s unveiling of large-scale semiconductor and AI investment plans, with Samsung Electronics and SK Group expected to announce major long-term investments to strengthen South Korea’s advanced technology sector. Despite the supportive policy backdrop, heavyweight chipmakers came under pressure, with Samsung Electronics declining over 4% and SK hynix losing over 3%. Losses were also seen in SK Square (-6.1%), SK Inc (-6.6%), and Hyundai Mobis (-1.6%).

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