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KOSPI Snaps 7-Day Rise amid Tensions in Middle East

Written: 2025-06-13 16:46:53Updated: 2025-06-13 16:52:17

KOSPI Snaps 7-Day Rise amid Tensions in Middle East

Photo : YONHAP News

The benchmark Korea Composite Stock Price Index(KOSPI) snapped its seven-day winning streak Friday, falling below two-thousand-900, as rising tensions in the Middle East fueled investor caution.

The KOSPI fell 25-point-41 points, or zero-point-87 percent, to close the week at two-thousand-894-point-62.

Investor sentiment weakened after Israel launched preemptive strikes on Iranian nuclear facilities and the Trump administration announced a 50 percent steel tariff on imported household appliances, affecting South Korean companies like Samsung Electronics and LG Electronics.

Samsung Electronics and LG Electronics saw declines of two-point-02 percent and three-point-99 percent, respectively, while defense stocks surged, with Poongsan rising 22-point-15 percent to a record high and LIG Nex1 up 14-point-35 percent.

The tech-heavy KOSDAQ dropped 20-point-59 points, or two-point-61 percent, to close the week at 768-point-86.

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