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After missile attacks in the Middle East, the stock markets in South Korea and Japan react with heavy losses. (archive picture)
Keystone
Stock markets in East Asia have fallen sharply in the wake of the latest escalation in the Middle East. South Korea's leading index, the Kospi, started the trading week down by more than eight percent.
Due to the strong price movement, the stock exchange in Seoul imposed a 20-minute trading halt. As of 12 noon local time, the Kospi was down around four percent. At the same time, Japan's leading index, the Nikkei 225, was down 3.8 percent.
On Sunday evening, Iran fired missiles at Israel for the first time in two months, and on Monday morning Israel also attacked Iran. The Iranian attacks were in response to Israeli attacks on the Hezbollah militia in Lebanon. The latest escalation raises fears of renewed open conflict between the two countries. It also threatens to derail a possible agreement between Iran and the USA.
Oil prices have risen significantly again. A barrel (159 liters) of Brent crude oil for delivery in August cost USD 96.27 in the early hours of Monday morning. This is almost 3.2 percent more than the previous day. The economies of South Korea and Japan are heavily dependent on oil supplies from the Middle East.
08.06.2026, 05:20
