24.04.202601:35:32UTC+00South Korean Shares Pause Rally

The benchmark KOSPI slipped 0.3% to around 6,455 on Friday, halting its recent record-setting rally as investors turned cautious amid ongoing geopolitical tensions in the Middle East. The United States ordered naval operations against vessels laying mines in the Strait of Hormuz, while Iran seized commercial ships and indicated that disruptions to the strategic waterway could persist. These developments intensified fears over global oil supply, despite a temporary extension of the ceasefire between Israel and Lebanon.

Losses were led by technology stocks, mirroring an overnight pullback on Wall Street. Market bellwethers Samsung Electronics (-1.8%) and SK Hynix (-0.2%) both declined. Automakers also faced selling pressure, with Hyundai Motor (-3.4%) and Kia Corporation (-2.7%) recording sharp losses.

At the same time, the rise in geopolitical risks prompted a rotation into defense-related names, which helped cushion the broader market’s decline. Shares of Hanwha Aerospace and Doosan Enerbility advanced, partly offsetting weakness in other sectors.