KOSPI slips to around 6,800 as US-Iran clashes lift oil prices

  • KOSPI declined to around 6,800 as renewed US-Iran clashes pressured Korean equities.
  • South Korea’s August exports rose 68.7% year-on-year to $98.25 billion.
  • Semiconductor exports surged 209% to $46.65 billion, extending overall export growth to 15 months.

The KOSPI edged down to around 6,800 on Tuesday, reversing the previous session’s gains as renewed US-Iran military clashes hurt investor sentiment and pushed oil prices higher. The escalation revived concerns about inflation and tighter global monetary policy, while losses on Wall Street added pressure to Korean stocks. Samsung Electronics fell 0.3%, Hyundai Motor declined 1.1%, Hanwha Aerospace dropped 3.3%, KB Financial Group lost 1.4% and Doosan Enerbility slipped 1.8%. Strong domestic trade data offered some support: South Korea’s exports rose 68.7% year-on-year to $98.25 billion in August, extending growth to a 15th consecutive month. Semiconductor exports surged 209% to $46.65 billion as major technology companies continued spending on AI infrastructure, reinforcing expectations for solid earnings among Korea’s major semiconductor companies.

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