KOSPI falls as investors remain cautious ahead of chip earnings
The benchmark KOSPI fell Monday as renewed tensions in the Middle East sent oil prices higher, while investors remained cautious ahead of earnings announcements from Korea's major chipmakers later this week. The KOSPI closed at 5,469.47, down 1.46 percent, or 80.83 points, from the previous session. Foreign investors sold a net 6.955 trillion won ($5.26 billion) worth of shares, while…
The KOSPI index declined on Monday as geopolitical tensions in the Middle East pushed oil prices up, and investors remained cautious before major chipmaker earnings reports. The benchmark index closed at 5,469.47, marking a 1.46 percent or 80.83 point decrease from the prior session. Foreign investors offloaded a combined net of 6.955 trillion won ($5.26 billion) in shares, while domestic institutional and retail investors collectively purchased 6.11 trillion won and 474 billion won, respectively.
Despite the overall price drop, blue-chip stocks, such as SK hynix and Samsung Electronics, experienced losses. SK hynix's shares fell 2,000 won to 1,275,000 won, and Samsung Electronics saw a 2,500 won decline to 213,000 won. The Middle East's renewed tensions fueled investor unease, particularly following reports that U.S. President Donald Trump might resume strikes on Iran, raising concerns about potential conflicts.
Brent crude futures hovered around $115 a barrel, following a 6 percent increase last week due to worries about potential disruptions to energy supplies. Investors also approached earnings reports from the two leading chipmakers in South Korea with caution, anticipating SK hynix's third-quarter results.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- KOSPI falls as investors remain cautious ahead of chip earnings koreatimes.co.kr
