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Illustration of panicked Seoul stock traders watching KOSPI plunge due to Middle East tensions.
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Seoul stocks open sharply lower amid Middle East crisis fears

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South Korean stocks opened sharply lower on Monday amid rising concerns over a broader Middle East conflict after Iran-backed Houthi militants in Yemen fired missiles at Israel. The benchmark KOSPI fell 240.94 points, or 4.43 percent, to 5,197.93 in the first 15 minutes of trading. Global oil prices climbed while U.S. troop deployments heightened fears.

The World Bank Group has announced a coordinated plan to provide financial aid to vulnerable countries like Kenya amid the Middle East conflict's effects. President William Ruto warned oil marketers against hoarding fuel for profit. This comes as fuel prices surge and some Kenyan petrol stations report shortages.

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Sebuah rudal Iran menghantam Pangkalan Udara Prince Sultan dekat Riyadh pada hari Jumat, melukai beberapa anggota militer AS dan merusak sejumlah pesawat. Seorang pejabat AS mengonfirmasi adanya korban luka di fasilitas gabungan Arab Saudi-AS tersebut. Serangan ini terjadi di tengah rentetan serangan Iran terhadap pangkalan-pangkalan AS sejak perang dimulai sebulan lalu.

Kementerian Luar Negeri Indonesia mengumumkan penundaan Konferensi Tingkat Tinggi D-8 2026 di Jakarta akibat konflik di Timur Tengah, sambil menegaskan tidak menjadi co-sponsor Resolusi Dewan Keamanan PBB Nomor 2817 yang mengecam serangan Iran terhadap negara-negara Teluk.

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The South Korean government plans to swiftly prepare a supplementary budget using excess tax revenue to ease livelihood burdens from the Middle East conflict, without issuing additional state bonds. This follows an order from President Lee Jae Myung. The budget will focus on alleviating logistics and fuel costs while supporting low-income households.

Building on initial calls for de-escalation, China has ramped up diplomatic efforts including Foreign Minister Wang Yi's outreach to 11 nations and special envoy Zhai Jun's regional shuttle diplomacy to secure an immediate ceasefire in the US-Israel-Iran conflict, now in its 12th day.

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Industry sources say Indian airline operators are now paying additional insurance charges for every aircraft flying into the Middle East. This is significantly increasing the cost of operations on these routes. Fares may rise as a result.

 

 

 

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