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Kospi opens lowers as investors doubt whether Iran war cease-fire will last

Published: 09 Apr. 2026, 12:09

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on April 9. [YONHAP]

Korean stocks opened lower on Thursday as investors continue to doubt whether a cease-fire deal between the United States and Iran will last, given the woes regarding different versions of the agreement terms.

The benchmark Kospi fell 50.72 points, or 0.86 percent, to 5,821.62 as of 9:15 a.m.

On Wednesday, the main index soared nearly 7 percent after Washington and Tehran agreed to a two-week cease-fire, which sharply drove global crude prices lower.

However, tensions in the Middle East persisted overnight, with Israel vowing to continue its offensive against Lebanon, stressing that the country is not subject to the cease-fire agreement.

Citing Israel's attacks on Lebanon, Iran said that it could withdraw from the cease-fire agreement, including its commitment to keep the Strait of Hormuz open.

Washington said that Israel's operations against Lebanon are not covered under the agreement, signaling further uncertainties in the crisis.

Investors also worry that the Strait of Hormuz may remain effectively closed as the two sides still spar over the terms.

Market top-cap Samsung Electronics lost 2.38 percent, and SK hynix moved down 1.84 percent.

Construction shares lost ground following the previous session's sharp gains, with Hyundai Engineering & Construction falling 4.03 percent and Daewoo Engineering & Construction losing 0.89 percent.

Leading oil refiner SK Innovation shed 0.33 percent, while S-Oil gained 0.27 percent.

Battery makers traded higher, with LG Energy Solution rising 0.99 percent and Samsung SDI moving up 1.17 percent.

The local currency weakened by 11.1 won to trade at 1,481.7 won against the greenback at 9:15 a.m.

Yonhap