SEOUL, April 13 (AJP) — Asian markets opened broadly lower Monday on renewed spike in oil price after the U.S.-Iran showdown spilled over to the Strait of Hormuz following failed weekend peace talks.
The pullback, however, remained relatively contained at around 1 percent, suggesting markets are still pricing in a controlled escalation and a potential pathway toward stabilizing the critical waterway.
South Korea’s benchmark KOSPI fell 0.79 percent to 5,812.82 as of 10:43 a.m., and Japan’s Nikkei 225 also 0.79 percent to 56,474.72. Hong Kong’s Hang Seng Index declined 1.11 percent to 25,605.67, and China’s Shanghai Composite Index edged down 0.28 percent to 3,975.10.
The cautious retreat followed confirmation from the United States Central Command that it would implement maritime security measures targeting vessels entering or leaving Iranian ports starting at 10 a.m. Eastern Time on April 13.
Under the plan, traffic linked to Iranian ports across the Persian Gulf and the Gulf of Oman will be subject to control measures regardless of nationality, while transit through the Strait of Hormuz will remain open for vessels traveling between non-Iranian ports.
The move aligns with a more aggressive posture signaled by Donald Trump, who said “the blockade will begin shortly” and indicated mine-clearing operations would commence in the waterway.
The calibrated approach — restricting Iranian-linked flows while preserving broader navigation — points to a selective pressure strategy aimed at choking off Tehran’s oil revenues without triggering a full-scale supply shock.
Large-cap stocks in Seoul mostly traded lower. Samsung Electronics fell 1.70 percent to 202,500 won, Hyundai Motor declined 1.23 percent to 483,500 won, and LG Energy Solution slipped 1.09 percent to 407,500 won. Samsung Biologics dropped 1.78 percent, while KB Financial Group edged down 1.20 percent.
Losses extended across cyclicals, with Samsung C&T down 2.31 percent and Celltrion off 2.63 percent. Doosan Enerbility fell 1.70 percent, HD Hyundai Heavy Industries declined 1.05 percent, and NAVER slipped 1.93 percent.
Gains were limited. SK hynix rose 1.36 percent to 1,041,000 won, Hanwha Aerospace added 0.40 percent, and SK Square advanced 2.46 percent.
Construction shares, which had rallied on expectations of postwar reconstruction demand in the Middle East, came under renewed pressure as the collapse of U.S.–Iran talks dampened sentiment. GS Engineering & Construction dropped 4.12 percent, Hyundai Engineering & Construction fell 1.62 percent, while Kyeryong Construction Industrial and Samsung E&A declined 4.20 percent and 3.61 percent, respectively.
The retreat followed a sharp run-up. From March 3 to April 10, the KRX Construction Index surged 26.11 percent, the strongest gain among all sectors, while KOSPI-listed construction stocks climbed 30.59 percent, significantly outperforming the broader market.
The KOSDAQ bucked the trend, rising 0.55 percent to 1,099.67.
Among gainers, EcoPro rose 0.55 percent and EcoPro BM gained 0.99 percent, while Leeno Industrial edged up 0.09 percent. On the downside, Alteogen fell 3.04 percent, ABL Bio dropped 1.78 percent, and Kolon TissueGene slid 6.24 percent.
The U.S. dollar rose to 1,491.40 won from last close of 1,482.50.
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