On the 13th, the KOSPI index was down more than 3% in early trading. Oil prices also surged after Iran's new supreme leader issued hard-line remarks targeting the United States and Israel.
As of 9:03 a.m., the KOSPI index was pointing to 5,394.79, down 188.46 points (3.38%). The KOSPI started the session at 5,412.39, down 170.86 points (3.06%) from the previous day.
The main board is being led by individual investors. Individuals were net buyers of 198.3 billion won, while foreigners and institutions were net sellers of 125.9 billion won and 83.4 billion won, respectively.
Blue lights also lit up across the top market-cap names on the main board. Samsung Electronics and SK hynix were down about 3% and 4%, respectively. Hyundai Motor, LG Energy Solution, Hanwha Aerospace, Samsung Biologics, SK Square, Doosan Enerbility, and HD Hyundai Heavy Industries were also declining.
At the same time, the KOSDAQ index was down 2.25% (25.85 points) at 1,122.55 from the previous day. The KOSDAQ opened at 1,122.28, down 26.12 points (2.27%).
On the KOSDAQ market, foreigners were net buyers of 46.6 billion won and institutions 11.1 billion won. Individuals were net sellers of 58.1 billion won.
Eight of the top 10 KOSDAQ market-cap stocks were falling. EcoPro, Alteogen, EcoPro BM, Sam Chun Dang Pharm, Rainbow Robotics, ABL Bio, LEENO Industrial, and Kolon TissueGene were down, while LigaChem Biosciences and Peptron were rising.
Overnight, the three major U.S. indexes all fell. Iran's new supreme leader made hard-line remarks vowing to continue the Strait of Hormuz blockade, while a spike in oil prices and concerns over private credit deterioration piled on.
The Dow Jones Industrial Average ended down 739.42 points (1.56%) at 46,677.85, setting a new low for the year. The Standard & Poor's (S&P) 500 fell 103.18 points (1.52%) to 6,672.62, and the Nasdaq composite closed down 404.16 points (1.78%) at 22,311.979.
Mojtaba Khamenei, elected as Iran's new supreme leader, said in his first official statement that "we must continue to use the lever of closing the Strait of Hormuz as a means of pressure against the enemy." In addition, the Islamic Revolutionary Guard Corps (IRGC) said it attacked four ships around the Strait of Hormuz that day. Since the war began, at least 16 ships have been attacked in the area.
Oil prices also surged, topping $100 per barrel. May delivery Brent crude futures settled at $100.46 per barrel, up 9.2% from the previous session, while April delivery West Texas Intermediate (WTI) futures rose 9.7% to $95.73 per barrel.