FX.co ★ South Korean Shares Extend Losses

The benchmark KOSPI fell toward the 7,700 level on Thursday, extending the previous session’s losses amid weakness in global technology stocks and escalating tensions in the Middle East. Chipmakers remained under pressure after a renewed selloff in US semiconductor shares reignited concerns about stretched AI-related valuations, dragging down major Korean tech names. Samsung Electronics slipped 0.3%, while Hyundai Motor (-3.0%), LG Energy Solution (-2.5%), Kia Corporation (-4.7%), Hanwha Aerospace (-5.0%), and Doosan Enerbility (-5.2%) recorded steeper declines.

Sentiment was further weighed down by rising geopolitical risks after the US threatened additional military action against Iran, stoking fears of potential supply disruptions in the Strait of Hormuz and driving oil prices higher. Still, losses on the KOSPI were partly contained by robust trade data: South Korea’s exports surged 86% year-on-year in the first 10 days of June to a record high, supported by strong semiconductor shipments.