South Korean stocks experienced a significant drop at the opening bell on Tuesday following renewed threats from US President Donald Trump against Iran, exacerbating ongoing tensions in the Middle East.
The Korea Composite Stock Price Index (KOSPI) opened at 5,143.75, a decrease of 133.55 points, or 2.53 percent.
On Monday (US time), President Trump stated that the US would “completely obliterate” Iran’s Kharg Island, a crucial oil infrastructure point, in addition to its power plants and oil wells, should a peace agreement with the United States not be reached in the near future. This statement further fueled market uncertainty and the sell-off in South Korean equities.
