South Korean shares turn lower as Middle East crisis keeps oil elevated

LG Energy Solution

16/03/2026 02:59

KOSPI falls, foreigners net sellers

Korean won strengthens against dollar

South Korea benchmark bond yield rises

SEOUL, March 16 (Reuters) - Round-up of South Korean financial markets:

** South Korean shares erased early gains to trade lower on Monday as heightening uncertainty over hostilities in the Middle East continued to keep oil prices elevated.

** The benchmark KOSPI .KS11 was down 28.59 points, or 0.52%, at 5,458.65 as of 0228 GMT, after rising as much as 1.35% earlier in the session.

** "News flow on the Middle East situation is changing every hour, implying renewed possibilities of oil price volatility triggering stock market volatility," said Han Ji-young, analyst at Kiwoom Securities.

** President Donald Trump said on Sunday his administration is talking to seven countries about helping to secure the Strait of Hormuz amid the U.S.-Israeli war on Iran, calling on them to help protect ships in the waterway that Tehran has mostly blocked.

** Oil prices pared gains after Trump's remarks, with Brent crude futures LCOc1 falling 0.23% to $102.90 a barrel by 0049 GMT after settling $2.68 higher on Friday.

** South Korea's ruling Democratic Party said on Monday that the government will lift limits on coal-fired power generation capacity and raise nuclear power plant utilisation as part of an energy response to the Middle East crisis.

** The ruling party also said the government will draw up a supplementary budget by the end of this month to support those hit by surging oil prices.

** Among index heavyweights, chipmaker Samsung Electronics 005930.KS rose 0.27%, while peer SK Hynix 000660.KS gained 1.98%. Battery maker LG Energy Solution 373220.KS slid 1.36%.

** Of the total 924 traded issues, 210 shares advanced, while 675 declined.

** Foreigners were net sellers of shares worth 517.6 billion won ($345.60 million).

** The won was quoted at 1,496.8 per dollar on the onshore settlement platform KRW=KFTC, 0.05% higher than its previous close at 1,497.5.

** The most liquid three-year Korean treasury bond yield KR3YT=RR fell by 3.4 basis points to 3.305%, while the benchmark 10-year yield KR10YT=RR rose by 3.3 basis points to 3.713%.

($1 = 1,497.6800 won)

 (Reporting by Jihoon Lee; Editing by Sonia Cheema)

 ((jihoon.lee@thomsonreuters.com;))