November 19, 2025, China, Shanghai: boats sail past downtown Shanghai on the Huangpu River. The tallest building on the skyline is Shanghai Tower (back).
Bernd von Jutrczenka | Alliance in pictures | Getty Images
South Korea’s Kospi plunged more than 8% on Wednesday, putting it on track for its worst day since August 2024 and extending a sharp sell-off from the previous session amid an escalating war in the Middle East.
The Korea Stock Exchange temporarily interrupted trade for the Kospi index on Wednesday. A circuit breaker was also activated on the Kosdaq, which also fell more than 10%.
Kospi index heavyweights SK Hynix and Samsung Electronics fell 5% and 7%, respectively.
The South Korean market enjoyed a strong rally last year, climbing more than 75%, and extending its gains into the new year as well, with the Kospi hitting new highs on the back of chip heavyweights seeing their shares surge on strong demand for memory chips.
The South Korean won weakened beyond 1,500 won to the dollar for the first time since 2009.
from Japan Nikkei 225 lost 3.89%, while the Topix fell more than 4%.
Investors from the region will also attend an annual parliamentary meeting of Chinese policymakers which begins later today.
The gathering, nicknamed the “Two sessions”, consists of a consultative congress which will begin later today and a National People’s Assembly which is scheduled to open on Thursday. Chinese Premier Li Qiang is set to announce a series of economic goals to the NPC, which had largely been decided at a December meeting.
Australia S&P/ASX200 fell 1.81%. Hong Kong Hang Seng Index lost almost 2%, while the continental CSI 300 was down 1%.
Chinese factory activity weakened in February as manufacturers suspended production and shipments of goods to celebrate an extended holiday, an official survey showed Wednesday.
The official manufacturing purchasing managers’ index fell to 49 in February, according to the National Bureau of Statistics, missing economists’ forecast of 49.1.
Oil price extended gains with US crude futures up 0.87% at $75.21, while Brent rose 5.43% to $81.96 a barrel amid growing conflict with Iran. attempt to close the Strait of Hormuz.
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Oil prices since the beginning of the year
A senior commander in Iran’s Revolutionary Guards said Monday that the critical artery had been closed and warned that any vessel attempting to transit the waterway would be targeted, according to Iranian media.
US President Donald Trump said Tuesday afternoon that the US Navy will escort tankers through the Strait of Hormuzif necessary.
“Whatever happens, the United States will ensure the FREE FLOW OF ENERGY to the WORLD,” he said in a statement. Truth on social media. “America’s ECONOMIC and MILITARY POWER is the GREATEST ON EARTH – More Action to Come.”
Prices of precious metals have increased. Place gold advanced 1.85% to $5,180 an ounce, while spot money jumped more than 3% to $85.1 an ounce.
In the United States, socks had another choppy session overnight as concerns over a protracted conflict between the United States and Iran rattled markets.
THE Dow Jones Industrial Average lost 403.51 points, or 0.83%, and ended at 48,501.27. THE S&P500 slipped 0.94% to close at 6,816.63, while the Nasdaq Composite lost 1.02% to settle at 22,516.69. At their lowest of the day, the S&P 500 lost 2.5% and the Nasdaq lost about 2.7%. The 30-stock Dow was down more than 1,200 points, or about 2.6%, at its low.
—CNBC’s Sean Conlon and Pia Singh contributed to this report.