06.03.202601:40:08UTC+00South Korean Shares Slide on Oil Surge

The benchmark KOSPI fell more than 2% to around 5,450 on Friday, pulling back after a sharp rebound in the previous session as climbing oil prices and weaker global risk appetite pressured the market. Escalating conflict involving Iran intensified concerns over potential disruptions to Middle Eastern energy supplies, driving crude prices sharply higher. The surge in oil prices stoked fears of renewed inflationary pressures, particularly for energy-importing economies such as South Korea.

At home, authorities raised an energy supply alert as the government moved to more closely monitor fuel markets amid the recent jump in global oil prices. Sentiment was further dampened by losses on Wall Street, where major US indexes fell more than 1% overnight as investors shifted away from riskier assets. Heavyweight stocks declined, including Samsung Electronics (-3.9%) and SK hynix (-4.4%), as well as SK Square (-6.0%) and HD Hyundai Heavy Industries (-2.3%).