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The benchmark KOSPI dropped more than 2% to around 6,110 on Tuesday, extending the previous session’s losses as escalating Middle East tensions rattled regional markets. The slide followed coordinated US-Israeli strikes on Iranian targets and mounting threats to shipping in the Strait of Hormuz, which sent oil prices sharply higher and reignited concerns over inflation and energy costs for import-dependent economies such as South Korea.
Losses were concentrated in large-cap exporters, with technology and auto shares leading the downturn. Samsung Electronics (-2.3%) and SK hynix (-2.8%) declined alongside Hyundai Motor (-4.0%), Kia Corp (-5.7%), LG Energy Solution (-2.6%), and SK Square (-2.7%). The won also weakened, adding to equity-market pressure as foreign investors cut back their holdings.
In contrast, defense-related stocks gained, with Hanwha Aerospace surging 13.1% and Korea Aerospace Industries rising 4.1% on expectations of stronger demand for military equipment.
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