Asian stocks fall across the board as oil prices surge

by Lee Jung-woo Posted : April 30, 2026, 17:46Updated : April 30, 2026, 17:47
Graphics by AJP Song Ji-yoon
Graphics by AJP Song Ji-yoon
SEOUL, April 30 (AJP) - South Korea's benchmark KOSPI fell 1.38 percent to close at 6,598.87 on Thursday as rising oil prices dragged Asian markets lower. Brent crude futures jumped more than 5 percent in Asian trading, pushing regional stocks down over 1 percent.

The junior KOSDAQ also dropped, closing at 1,192.35, down 2.29 percent.

The main index rose to as high as 6,750.27 during the intraday session, setting a new intraday record. However, it later fluctuated and declined, falling below the 6,600 level. It ended lower for the first time in four days.

The index briefly hit a new intraday high of 6,750.27 before falling back to close below 6,600, ending its upward streak for the first time in four days.

Most major stocks fell. Samsung Electronics closed at 220,500 won (about $149.60), down 2.43 percent, while SK Hynix ended at 1,286,000 won, down 0.54 percent.

Hyundai Motor fell 4.5 percent to 531,000 won, LG Energy Solution dropped 2.64 percent to 460,500 won, and Doosan Enerbility declined 1.63 percent to 127,100 won.

Among entertainment stocks, HYBE rose more than 4 percent, while other companies declined. HYBE closed at 263,000 won, up 4.16 percent. JYP fell 2.48 percent to 62,900 won, SM dropped 0.92 percent to 96,600 won, and YG declined 1.82 percent to 54,000 won.

Japan's Nikkei 225 stood at 59,111.55 as of 3:40 p.m., down 1.35 percent.

Hong Kong's Hang Seng fell 1.19 percent to 25,800.75.