Commodities
South Korean Market Plunges on Middle East Uncertainty and Oil Prices
The South Korean stock market experienced a decline on Monday due to renewed uncertainty over the Middle East and higher oil prices.
The benchmark KOSPI fell nearly 2% to around 6,950, reversing gains from the previous session.
Brent crude rose above $105 a barrel after the US rejected Iran's conditional proposal concerning the Strait of Hormuz.
The rise in US Treasury yields also raised concerns over tighter global financial conditions and further rate hikes, with the 10-year yield approaching 5.17%.