Seoul shares snap 4-day gains on Middle East uncertainties
Yonhap News
Kang Yoon-seung
KO
2026-04-09 06:54
SEOUL, April 9 (Yonhap) -- South Korean stocks fell by more than 1.5 percent Thu...
SEOUL, April 9 (Yonhap) -- South Korean stocks fell by more than 1.5 percent Thursday to snap their four-day winning streak as investors digested different claims by Washington and Tehran on terms of their two-week ceasefire. The Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 94.33 points, or 1.61 percent, to 5,778.01.
Trading volume was heavy at 1 billion shares worth 29.4 trillion won (US$19.8 billion), with losers outnumbering gainers 509 to 356.
Foreigners sold a net 874 billion won, while individuals bought a net 298 billion won. Institutions purchased a net 206 billion won.
The United States and Iran reached a two-week ceasefire agreement Tuesday (U.S. time), including the reopening of the crucial Strait of Hormuz.
Uncertainties, however, persisted as the two sides differed on whether the deal includes ending Israel's offensive against Lebanon.
Iran said it could withdraw from the agreement, including its commitment to keep the Strait of Hormuz open, if Israel continues its attacks on Lebanon, while Washington said the issue is not covered under the deal.
Analysts said such disagreements over the terms between the United States and Iran ahead of negotiations slated for the weekend have kept investors cautious.
"Amid such developments, concerns over a renewed shutdown of the Strait of Hormuz have emerged, driving global crude prices higher and keeping investors on alert," Lee Kyoung-min, a researcher at Daishin Securities, said.
"As Israel's attack on Lebanon continues, there is still a chance of renewed escalation," Kim Seok-hwan, an analyst at Mirae Asset Securities, also said.
"Although the U.S. and Iran agreed on a ceasefire, both sides still have terms they cannot accept."
Tech shares lost ground as investors cashed in recent gains, with Samsung Electronics falling 3.09 percent to 204,000 won and SK hynix losing 3.39 percent to 998,000 won.
Hanwha Aerospace, a defense company, fell 2.22 percent to 1,451,000 won, and Hyundai Rotem moved down 1.69 percent to 203,000 won.
Oil refiners closed higher as global crude prices rebounded on the geopolitical uncertainties, with SK Innovation advancing 2.00 percent to 124,000 won and S-Oil climbing 6.69 percent to 119,600 won.
Mobile carriers were also among winners, with SK Telecom moving up 5.39 percent to 93,800 won and LG Uplus adding 0.37 percent to 16,190 won.
The local currency was quoted at 1,482.5 won against the U.S. dollar as of 3:30 p.m., down 11.9 won from the previous session.
colin@yna.co.kr(END)
The benchmark Korea Composite Stock Price Index (KOSPI) lost 94.33 points, or 1.61 percent, to 5,778.01.
Trading volume was heavy at 1 billion shares worth 29.4 trillion won (US$19.8 billion), with losers outnumbering gainers 509 to 356.
Foreigners sold a net 874 billion won, while individuals bought a net 298 billion won. Institutions purchased a net 206 billion won.
The United States and Iran reached a two-week ceasefire agreement Tuesday (U.S. time), including the reopening of the crucial Strait of Hormuz.
Uncertainties, however, persisted as the two sides differed on whether the deal includes ending Israel's offensive against Lebanon.
Iran said it could withdraw from the agreement, including its commitment to keep the Strait of Hormuz open, if Israel continues its attacks on Lebanon, while Washington said the issue is not covered under the deal.
Analysts said such disagreements over the terms between the United States and Iran ahead of negotiations slated for the weekend have kept investors cautious.
"Amid such developments, concerns over a renewed shutdown of the Strait of Hormuz have emerged, driving global crude prices higher and keeping investors on alert," Lee Kyoung-min, a researcher at Daishin Securities, said.
"As Israel's attack on Lebanon continues, there is still a chance of renewed escalation," Kim Seok-hwan, an analyst at Mirae Asset Securities, also said.
"Although the U.S. and Iran agreed on a ceasefire, both sides still have terms they cannot accept."
Tech shares lost ground as investors cashed in recent gains, with Samsung Electronics falling 3.09 percent to 204,000 won and SK hynix losing 3.39 percent to 998,000 won.
Hanwha Aerospace, a defense company, fell 2.22 percent to 1,451,000 won, and Hyundai Rotem moved down 1.69 percent to 203,000 won.
Oil refiners closed higher as global crude prices rebounded on the geopolitical uncertainties, with SK Innovation advancing 2.00 percent to 124,000 won and S-Oil climbing 6.69 percent to 119,600 won.
Mobile carriers were also among winners, with SK Telecom moving up 5.39 percent to 93,800 won and LG Uplus adding 0.37 percent to 16,190 won.
The local currency was quoted at 1,482.5 won against the U.S. dollar as of 3:30 p.m., down 11.9 won from the previous session.
colin@yna.co.kr(END)