The benchmark KOSPI slipped more than 3% to around 6,630 on Wednesday, reversing gains from the previous session, as escalating US-Iran hostilities pushed oil prices higher and weighed on global risk sentiment. Brent crude climbed above $95 per barrel while WTI rose above $90, raising concerns over energy costs and inflation amid risks of disruptions to oil flows through the Strait of Hormuz. Additionally, the US 10-year Treasury yield climbed to its highest level since January 2025, adding pressure on equities and technology stocks. Samsung Electronics and SK hynix fell more than 2% and nearly 3%, respectively. Notable declines were also recorded in SK Square (-5.2%), Hyundai Motor (-4.1%), LG Energy Solution (-3.0%), Hanwha Aerospace (-1.9%), Doosan Enerbility (-3.4%), and Kia Corporation (-3.8%). South Korea’s annual inflation rose to 3.1% in August from 2.8% in July, although the government estimated price growth at around 2.5% excluding a temporary mobile-bill base effect.