The Seoul Stock Exchange loses 1.11% from new tensions in the Middle East

The Kospi index of the Seoul Stock Exchange today lost 1.11% in a session marked by the new tensions that have arisen between Washington and Tehran.

The Kospi dropped 24.23 points, to 2,151.31 units, while the Kosdaq technology index lost 3.39% or 22.50 points, to 640.94 units.

Like other global parks, the Iranian attack on two Iraqi air bases where US military troops were stationed has generated new global uncertainties that have affected Seoul’s stock market operations.

Samsung Electronics, the main market value, was excluded from widespread falls and ended with an advance of 1.79%, but it was because it anticipated better operating profits of the last quarter of 2019 than expected analysts.

SK Hynix, the world’s second largest microchip manufacturer, finished with a 3.62% rise and set a historical record in its price, infected with the good prospects of the sector anticipated by Samsung Electronics.

The negative impact was noted strongly in other key firms in the market. Hyundai Motor, for example, the first South Korean automotive group, collapsed 3.03%, and its younger brother, Kia Motors, lost 1.78%.

The chemical firm LG Chem fell 2.89% Celltrion fell 2.81%.


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