South Korean Shares Hit More Than 2-Month Low

The benchmark KOSPI fell more than 3% to around 6,605 on Monday, extending losses to its lowest level since late April, as weakness in global semiconductor stocks weighed on investor sentiment. The decline followed another week of losses on Wall Street, where semiconductor shares remained under pressure amid lingering concerns over AI-related spending and valuations, weighing on broader market sentiment. Escalating Middle East tensions also dampened investor sentiment following continued US military strikes against Iran, fueling concerns over disruptions to energy supplies and pushing oil prices higher. Losses were seen in Samsung Electronics (-1.6%), Hyundai Motor (-4.4%), KB Financial Group (-3.9%), and Kia Corporation (-5.1%). Meanwhile, Samsung Biologics agreed to acquire Switzerland’s PolyPeptide Group in a $1.8 billion all-cash deal, the largest acquisition in South Korea’s biopharmaceutical industry, expanding its global CDMO and peptide manufacturing capabilities.





