SEOUL, March 31 (AJP) - Asian stocks overall traded lower on Tuesday, with South Korea’s benchmark KOSPI extending losses for a fourth straight session amid uncertainty surrounding the Iran crisis and weakness in global semiconductor shares.
Japan’s Nikkei 225 fell 1.58 percent to 51,063.72, Hong Kong's Hang Seng Index edged down 0.16 percent to 24,712.24, China’s Shanghai Composite Index fell 0.80 percent to 3,891.86, and Taiwan’s TAIEX Index fell 2.45 percent to 31,722.99.
The KOSPI opened 2.53 percent lower at 5,143.75 and fell 4.26 percent to close at 5,052.46, after briefly threatening to dip below the 5,000 level in early trade. It later pared losses to reclaim the 5,200 mark, but selling pressure intensified again toward the close.
Heavyweight chip stocks led the decline, as concerns grew that the sharp rally in memory prices driven by the AI boom could lose momentum. Samsung Electronics plunged 5.16 percent to close at 167,200 won, after opening 3.57 percent lower at 170,000 won and briefly trimming losses to 174,700 won before resuming its decline. The company’s announcement that it would cancel about 14.5 trillion won worth of treasury shares failed to support the stock.
SK hynix also dropped sharply, falling 7.56 percent to 807,000 won, tracking a steep overnight sell-off in semiconductor stocks on Wall Street.
In the auto sector, Hyundai Motor declined 5.11 percent to 445,500 won, slipping to fourth in market capitalization as the Iran conflict raised concerns over supply chain disruptions and production setbacks.
Analysts warned that a prolonged war could pressure margins and disrupt supplies of key inputs such as plastics, chemicals and automotive semiconductors, while longer shipping routes could add to near-term production risks. However, a weaker won and a higher share of high-margin models, including SUVs, Genesis vehicles and hybrids, are expected to support profitability.
Affiliate Kia fell 4.16 percent to 145,200 won, and Hyundai Mobis dropped 5.03 percent to 378,000 won.
In the shipbuilding and defense sector, HD Hyundai Heavy Industries shed 3.12 percent to 465,000 won, and Hanwha Aerospace lost 4.51 percent to 1,249,000 won.
In biopharmaceuticals, Samsung Biologics slipped 1.70 percent to 1,504,000 won and Celltrion declined 2.13 percent to 197,200 won.
Financials were also lower, with KB Financial Group falling 2.74 percent to 141,900 won, Samsung Life Insurance dropping 4.10 percent to 210,500 won, Shinhan Financial declining 3.09 percent to 87,700 won, and Mirae Asset Securities edging down 1.75 percent to 61,600 won.
Elsewhere, Samsung C&T fell 2.31 percent to 253,500 won and Doosan Enerbility dropped 2.55 percent to 91,800 won,
Hanwha Ocean was the only gainer among the major stocks, rising 1.69 percent to close at 120,200 won.
On the secondary KOSDAQ market, Samchundang Pharm plunged 29.98 percent to 829,000 won, retreating sharply from recent highs above 1.1 million won the previous day.
The drop came despite the company’s announcement of an exclusive agreement in the United States for an oral semaglutide generic, which includes about $100 million in conditional payments and a 90 percent share of sales for 10 years, as profit-taking emerged amid concerns over stretched valuations after a rapid rally.
The Korean won traded at 1,529.30 per dollar, weakening further from around 1,522.60 earlier in the day, as persistent geopolitical tensions, elevated oil prices and strong dollar demand continued to weigh on the currency.
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