Kospi Takes a Hit Amid Oil Price Concerns and Middle East Uncertainty

South Korea's stock market slid on Thursday, despite a significant surge in exports, due to concerns over elevated global oil prices and uncertainty surrounding Middle Eastern oil supplies. The Kospi index fell by 14.60 points or 0.21% to 6,823.44 as of 00:56 GMT.

The South Korean won weakened against the US dollar, trading at 1,359.4 per dollar on the onshore settlement platform, down 0.27% from its previous close. Government bond yields rose higher in response to the economic uncertainty.

The country's exports reached a record $120.9 billion in September, with semiconductor shipments more than tripling amid strong global spending on artificial intelligence. However, investors remained cautious due to rising oil prices and ongoing concerns over Middle Eastern oil stability.