STOCKS | South Korean Stocks Fall More Than 3% as U.S.-Iran Conflict Escalates

According to Jin10, South Korean stocks fell more than 3% on Wednesday as the escalation in the U.S.-Iran conflict pushed up bond yields and pressured equities. U.S. airstrikes on Iran on Tuesday triggered Iranian retaliation, marking the most severe escalation in weeks. Kiwoom Securities analysts said market sensitivity to macro variables such as oil prices and bond yields has increased. Data showed South Korea's consumer inflation rate accelerated in August due to a low base effect from the same period last year, but came in below market expectations. Among heavyweight stocks, Samsung Electronics, SK Hynix, and LG Energy Solution fell more than 3%, while Hyundai Motor and Kia fell more than 5%. Of the 907 stocks traded, 150 rose and 731 fell, while foreign investors were net sellers of 890.2 billion won worth of shares.