SEOUL, March 13 (AJP) — Asian stock markets ended lower Friday as oil prices climbed back toward the $100 mark and tensions in the Middle East continued to unsettle investors across the region with little sign of easing in the second week.
The Strait of Hormuz remained severely disrupted, raising alarms about Asian economies relying heavily on crude imports from the Gulf.
U.S. benchmark West Texas Intermediate crude traded around $95 per barrel, while global benchmark Brent crude hovered near $100, keeping inflation risks firmly in focus.
The cautious mood followed losses on Wall Street overnight. The Dow Jones Industrial Average fell 1.6 percent, the S&P 500 dropped 1.5 percent and the Nasdaq Composite slid 1.8 percent as investors reacted to rising energy costs and prolonged geopolitical uncertainty.
Technology shares led the decline. The Philadelphia Semiconductor Index fell 3.4 percent, reflecting concerns that escalating tensions in the Gulf could disrupt supply chains and global demand.
In Tokyo, the Nikkei 225 slid 1.4 percent to 53,693, with exporters and technology stocks under pressure following weakness in U.S. equities.
Chinese and Hong Kong markets also closed lower. The Shanghai Composite Index fell 0.9 percent to 4,090.2, while Hong Kong’s Hang Seng Index lost 0.9 percent. Taiwan’s TAIEX slipped 0.5 percent. Malaysia was among the few regional markets to avoid the broader decline.
In Seoul, the benchmark KOSPI fell 1.7 percent to close at 5,487.24 after swinging sharply during the session. The index briefly dropped to an intraday low of 5,392.52 before trimming some losses later in the day.
Investor flows showed a clear divergence. Foreign investors sold 1.46 trillion won ($980 million) worth of KOSPI shares and institutions offloaded 1.03 trillion won, while retail investors stepped in aggressively, purchasing a net 2.45 trillion won and helping cushion the decline.
The tech-heavy KOSDAQ edged up 0.4 percent to 1,152.96 after recovering from early losses. Institutions were net buyers of 275.6 billion won, while foreign and retail investors sold 108.2 billion won and 131.2 billion won, respectively.
Trading activity remained heavy as investors repositioned portfolios amid global uncertainty. Turnover reached 22.97 trillion won ($15.4 billion) on the KOSPI and 14.25 trillion won on the KOSDAQ.
South Korean equities have swung sharply in recent sessions as investors reacted to developments in the Middle East and rapid moves in energy markets.
The KOSPI plunged 6 percent Monday to 5,251.87 as geopolitical tensions rattled markets, before rebounding to 5,532.59 Tuesday and climbing further to 5,609.95 on Wednesday.
Among Seoul heavyweights, Samsung Electronics fell 2.34 percent to 183,500 won and SK hynix declined 2.2 percent to 910,000 won, reflecting weakness in global semiconductor shares.
Battery maker LG Energy Solution dropped 3.9 percent to 369,000 won, while automakers Hyundai Motor and Kia slipped 0.8 percent and 1.6 percent, respectively. Samsung Biologics also fell about 2 percent, adding pressure on the index.
Internet platform operator Naver bucked the broader market trend, rising 0.5 percent to 223,000 won.
Energy markets remained a key driver of sentiment. West Texas Intermediate crude rose from around $81 per barrel at the start of the week to about $96.7 by Friday, after briefly spiking as high as $115.4 during intraday trading.
Brent crude climbed from roughly $85.1 to about $101, touching a weekly peak of $117.
The surge revived concerns about inflation and potential disruptions to global supply chains, particularly for energy-importing economies across Asia.
The Korean won weakened to 1,496.5 per dollar Friday, revisiting levels last seen in the aftermath of the global financial crisis.
The U.S. dollar index rose from 99.17 to 99.89, underscoring stronger demand for safe-haven assets.
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