Iran Airstrikes Cause Domestic Stock Market to Plummet... KOSDAQ Drops Over 2% Intraday

[Asia Economy Reporter Oh Ju-yeon] As tensions between the United States and Iran escalated, the domestic stock market experienced significant turmoil. In particular, shortly after the market opened on the morning of the 8th, news broke that Iran launched dozens of missiles at U.S. military bases in Iraq in a retaliatory attack, causing the KOSDAQ index to plunge more than 2% intraday and collapse sharply. Both foreign and institutional investors are offloading stocks in the KOSPI and KOSDAQ markets.

As of 10:04 a.m. that day, the KOSPI was trading at 2,149.04, down 1.22% from the previous trading day. Among the top 14 companies by market capitalization, all stocks except Samsung Electronics and SK Hynix were in decline.

The KOSDAQ index fell more than 2%. At the same time, the KOSDAQ index recorded 649.46, down 2.11% from the previous trading day. At one point in the morning, the index dropped to 647.00, widening the loss to 2.48%.

Among KOSDAQ-listed companies, 1,204 stocks fell en masse, while only 100 stocks rose.

Meanwhile, Korea Information & Communications surged 29.96% to hit the upper price limit following news of a 45 billion KRW scale treasury stock cancellation.

Seo Sang-young, a researcher at Kiwoom Securities, analyzed, "A rocket attack occurred at a U.S. Air Force base in Iraq, causing U.S. after-hours futures to fall around 0.8%. Although this is a continuation of attacks that also occurred over the weekend, the U.S. military is gathering in the Indian Ocean, which could burden the market and especially act as a factor for profit-taking sales."

This content was produced with the assistance of AI translation services.