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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.
Foreign institutional investors sold domestic equities worth Rs 1,13,810 crore in March 2026, continuing their selling amid the Iran-Israel war. Year-to-date outflows for the year have reached Rs 1,27,157 crore.
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South Korean stocks closed slightly lower Friday amid mixed US signals on its war with Iran and eased chip sector concerns. The benchmark KOSPI fell 0.4 percent to 5,438.87, while the won weakened against the dollar.
Puig and The Estée Lauder Companies disclosed after Monday's market close that they are discussing a possible business combination, with no agreement reached. Puig notified Spain's CNMV on March 23, 2026. The deal could create a $40 billion beauty group with $20 billion in combined sales, prompting Estée Lauder shares to drop 7.7% while Puig's rose 11%.
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Seoul stocks opened sharply lower on Monday amid renewed energy price concerns after Iran's warning on the Strait of Hormuz. The KOSPI fell 4.72% in the first 15 minutes. The drop comes amid escalating U.S.-Iran tensions.
South Korean shares opened nearly 3 percent higher on Wednesday, driven by sharp gains in blue-chip tech stocks despite Middle East uncertainties. The benchmark KOSPI jumped 162.04 points, or 2.87 percent, to 5,802.52 in the first 15 minutes of trading. Semiconductor firms led the rally following Nvidia's annual tech conference.
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Seoul stocks open sharply lower on renewed Mideast tensions
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