KOSPI plunges nearly 7% below 7,000 as US-Iran tensions and oil spike batter chip giants

Markets/International Business Times/
KOSPI plunges nearly 7% below 7,000 as US-Iran tensions and oil spike batter chip giants
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South Korea's KOSPI plunged 6.99% to 6,953.49 on Monday, closing below 7,000 for the first time since early May, as an escalating US-Iran conflict and surging oil rattled markets. Chip heavyweights led the rout: SK Hynix sank about 10% and Samsung Electronics fell over 6%. Crude jumped as much as 4.5% after fighting near the Strait of Hormuz, stoking war-driven inflation fears.

2 sources

  1. 01Invezz — Here's why the Kospi Index is in a freefall today (July 13)invezz.com
  2. 02Investing.com — Asia stocks fall as US-Iran tensions lift oil; S. Korea's KOSPI slidesin.investing.com