The benchmark KOSPI fell more than 1% to around 5,790 on Thursday, snapping a four-session winning streak as investors turned cautious amid a fragile ceasefire between the United States and Iran. Geopolitical tensions remained elevated after both sides disputed aspects of the agreement, heightening fears of renewed disruptions in the Strait of Hormuz. The resulting uncertainty drove oil prices higher again, reinforcing risk-off sentiment and weighing on energy-import-dependent markets such as South Korea.
Technology stocks led the decline, with major chipmakers Samsung Electronics (-3.1%) and SK hynix (-2.4%) retreating and exerting significant downward pressure on the index. Cyclical sectors also weakened, with construction stocks giving back gains after the previous session’s sharp rally, underscoring the fading optimism that followed the initial ceasefire announcement. Notable losses were seen in Hyundai Motor (-1.7%), Hanwha Aerospace (-2.6%), SK Square (-1.6%), Doosan Enerbility (-1.1%), and Hyundai Engineering & Construction (-5.4%).
