Asian Shares Are Mixed as Tech Stocks Fall in Japan and South Korea
Samsung Electronics and SK Hynix led losses as investors weighed renewed U.S.-Iran strikes and higher oil prices.
- South Korea's KOSPI index dropped 2% on Monday as selling of technology shares accelerated amid renewed geopolitical tensions between the United States and Iran.
- Renewed hostilities erupted over the weekend as Iran launched drone and missile attacks on Bahrain and Kuwait in response to U.S. airstrikes, clouding the global economic outlook.
- Technology shares led the market downturn, with Samsung Electronics falling 6% and memory chipmaker SK Hynix retreating 4.5% as investors reacted to intensifying regional instability.
- Rising oil prices reflect ongoing instability near the Strait of Hormuz, with ING commodities strategists Warren Patterson and Ewa Manthey warning traders remain "too optimistic" regarding supply recovery.
- Investors await details on long-term investment plans from Samsung and SK Hynix, which will be addressed at a meeting chaired by President Lee Jae Myung later today.
32 Articles
32 Articles
Daily Journal
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Idaho Press
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Associated Press News
Asian shares are mixed as tech stocks fall in Japan and South Korea
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Seoul shares down 2% late Monday morning on tech losses, Iran uncertainty
Korean stocks traded sharply lower late Monday morning as investors remained cautious amid renewed concerns over the fragile U.S.-Iran ceasefire and rising oil prices, with tech shares leading losses. The benchmark Korea Composite Stock Price Index (KOSPI) lost 170.78 points, or 2.03 percent, to 8,240.43 as of 11:20 a.m., after opening 0.91 percent lower. Oil prices climbed after the United States and Iran exchanged fresh strikes over the weeken…
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