South Korea Financial Markets

A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, July 30, 2026.

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Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

Oil prices slip and Asian shares are mostly lower as investors sell chipmaker stocks

Oil prices have fallen and Asian shares are mostly trading lower. South Korea's Kospi extended its losses after falling more than 16% over the past two days as investors dumped shares of companies linked to the boom in artificial intelligence. Crude prices remain volatile. The U.S. said early Thursday it had conducted a “heavy wave” of strikes against Iran, responding to an attack on a U.S. base. U.S. futures edged higher despite losses Wednesday on Wall Street after the Federal Reserve kept interest rates unchanged. The S&P 500 dropped 1.5%. The Dow Jones Industrial Average fell 2.2%, and the technology-heavy Nasdaq composite lost 1.7%.