KOSPI Reverses 50% of April Gains Amid Hormuz Strait Tensions Resurgence

According to Herald Economy, South Korea's KOSPI index plummeted as Middle East tensions around the Strait of Hormuz resurfaced, reversing approximately 50% of gains accumulated since April and declining nearly 30% from last month's peak. The selloff in semiconductor stocks, combined with surging oil prices and won exchange rate weakness, accelerated foreign investor outflows and dampened market sentiment.
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