South Korean Shares Extend Losses on US-Iran Uncertainty

2026-06-29 01:36 By Erika Ordonez 1 min. read

The benchmark KOSPI edged down 0.20% to close at 8,395 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 aimed at strengthening South Korea's advanced technology sector.

Despite the supportive policy backdrop, heavyweight chipmakers came under pressure, with Samsung Electronics and SK hynix falling 3.76% and 1.16%, respectively.

Losses were also seen in SK Square (-3.84%), SK Inc (-3.68%), and LG Innotek (-2.47%).



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South Korean Shares Extend Losses on US-Iran Uncertainty
The benchmark KOSPI edged down 0.20% to close at 8,395 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 aimed at strengthening South Korea's advanced technology sector. Despite the supportive policy backdrop, heavyweight chipmakers came under pressure, with Samsung Electronics and SK hynix falling 3.76% and 1.16%, respectively. Losses were also seen in SK Square (-3.84%), SK Inc (-3.68%), and LG Innotek (-2.47%).
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The benchmark KOSPI slipped 5.81% to close at 8,411 on Friday, reversing gains from the previous session, following overnight losses on Wall Street and profit-taking. Investor sentiment weakened after the Nasdaq extended its losing streak as renewed weakness in large-cap technology stocks reignited concerns over AI-related valuations. Markets also remained cautious after US core inflation matched expectations but reached its highest level since October 2023, reinforcing expectations that the Federal Reserve could keep interest rates higher for longer. At the same time, investors locked in profits following the KOSPI's 5.4% surge in the previous session. Technology heavyweights declined, with Samsung Electronics and SK Hynix falling 6.28% and 8.95%, respectively, while SK Square (-9.43%), Hyundai Motor (-4.67%), LG Energy Solution (-6.25%), Hanwha Aerospace (-6.27%), Doosan Enerbility (-8.20%), and HD Hyundai Heavy Industries (-3.09%) also traded sharply lower.
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The benchmark KOSPI climbed 5.42% to close at 8,930 on Thursday, extending gains from the previous session as semiconductor stocks rallied on renewed optimism over AI-driven demand. Investor sentiment was boosted after Micron Technology reported stronger-than-expected quarterly results and issued an upbeat revenue forecast, reinforcing expectations of robust demand for memory chips. Chip heavyweights Samsung Electronics and SK hynix advanced sharply by 5.29% and 13.91%, respectively. SK hynix also gained support from plans to raise up to KRW 45.5 trillion through a Nasdaq ADR listing to fund AI chip capacity expansion and related investments. Other gainers included SK Square (6.61%), SK Inc. (20.51%), Hyundai Mobis (1.38%), HD Hyundai Electric (1.92%), and Kia Corporation (0.7%). At the same time, improving shipping conditions in the Strait of Hormuz eased energy supply concerns and supported risk appetite across regional markets.
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