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Finance & Markets

Oil prices surge over 2% after US strike on Iran’s Larak Island

Oil prices jumped more than 2% on Monday after a US strike on Iran’s Larak Island and Tehran’s response, escalating tensions in the Strait of Hormuz.

Oil prices surge over 2% after US strike on Iran’s Larak Island

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KOSPI reverses losses as Samsung, SK hynix buybacks lift sentiment

The benchmark KOSPI rebounded from a steep opening drop to close higher, Monday, as share buybacks by Samsung Electronics and SK hynix lifted the index amid concerns over a potential U.S. interest rate hike in September. The won continued to strengthen, closing in the 1,360-won range against the dollar for the first time in 13 months.

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