Korean Stocks Extend Decline on Oil Spike

2026-03-13 01:40 By Mariene Camarillo 1 min. read

The benchmark KOSPI slipped 1.72% to close at 5,487 on Friday, extending losses for another consecutive session as investor sentiment deteriorated amid a surge in oil prices and a broader global market selloff.

The decline followed a sharp drop in US equities overnight.

The Dow Jones Industrial Average slid 1.56% to its lowest level this year, while the Nasdaq Composite dropped 1.78%.

Equity markets faced added pressure after Mojtaba Khamenei, Iran’s newly appointed leader, pledged to keep the Strait of Hormuz closed.

The heightened tensions pushed Brent crude above $100 per barrel, while West Texas Intermediate rose to about $95.73, fueling concerns over inflation and global economic growth.

Tech stocks led the decline, with chipmakers Samsung Electronics (-2.18%) and SK Hynix (-2.04%) posting notable losses.

Battery makers and oil refiner firms also dragged the index lower, including LG Energy Solution (-3.65%), SK Innovation (-5.34%), and S-Oil (-4.49%).



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Korean Stocks Extend Decline on Oil Spike
The benchmark KOSPI slipped 1.72% to close at 5,487 on Friday, extending losses for another consecutive session as investor sentiment deteriorated amid a surge in oil prices and a broader global market selloff. The decline followed a sharp drop in US equities overnight. The Dow Jones Industrial Average slid 1.56% to its lowest level this year, while the Nasdaq Composite dropped 1.78%. Equity markets faced added pressure after Mojtaba Khamenei, Iran’s newly appointed leader, pledged to keep the Strait of Hormuz closed. The heightened tensions pushed Brent crude above $100 per barrel, while West Texas Intermediate rose to about $95.73, fueling concerns over inflation and global economic growth. Tech stocks led the decline, with chipmakers Samsung Electronics (-2.18%) and SK Hynix (-2.04%) posting notable losses. Battery makers and oil refiner firms also dragged the index lower, including LG Energy Solution (-3.65%), SK Innovation (-5.34%), and S-Oil (-4.49%).
2026-03-13
South Korea Stocks Retreat On Oil Concerns
The benchmark KOSPI fell 0.48% to close at 5,583 on Thursday, trimming gains from the previous sessions as investors turned cautious amid renewed volatility in global energy markets. Overnight signals from Wall Street offered little support, with markets ending mixed as investors stayed on the sidelines despite a coordinated release of emergency oil reserves by major economies. South Korea plans to contribute 22.46 million barrels from its strategic reserves as part of the International Energy Agency’s 400 million-barrel release, a move aimed at easing global supply pressures. In currency markets, the won weakened sharply against the dollar, reflecting a broader risk-off mood. Investors gravitated toward the greenback as a safe-haven asset while monitoring the potential economic fallout from fluctuating oil prices. Notable decliners were Samsung Electronics (-0.74%), SK Hynix (-0.89%), Hyundai Motor (-1.32%), KB Financial (-1.32%), and Celltrion (-1.79%).
2026-03-12
Korean Stocks Rise on Bargain Hunting
The benchmark KOSPI rose 1.4% to close at 5,609 on Wednesday, extending its rally for another session as investors returned to equities in search of attractive valuations despite lingering uncertainty in global energy markets. The rebound was driven by renewed buying after recent declines, as investors accumulated undervalued shares across major sectors. Investor caution persisted amid rising Middle East tensions that have stirred oil price volatility. Concerns grew after US President Donald Trump warned Iran of military retaliation over alleged mines in the Strait of Hormuz, saying US forces had destroyed ten inactive vessels tied to the activity. Chipmakers, automakers, and pharmaceuticals lifted the index, with notable gains from Samsung Electronics (+1.17%), SK Hynix (+2.03%), Hyundai Motor (+0.95%), Samsung Biologics (+4.08%), and Kia Corp (+0.93%).
2026-03-11