▲ U.S. Vice President JD Vance (R) speaks during a news conference after meeting with representatives from Pakistan and Iran in Islamabad on April 12, 2026, in this photo moved by AFP. (Yonhap)

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Seoul shares fall on escalating Hormuz tensions after peace talks fail; won declines

SEOUL, April 13 (Yonhap) -- South Korean stocks closed lower Monday amid escalating tensions surrounding the Strait of Hormuz after the United States announced a blockade following failed peace talks with Iran. The local currency fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 50.25 points, or 0.86 percent, to close at 5,808.62.

Trading volume was heavy at 1.07 trillion shares worth 21.1 trillion won (US$14.2 billion), with losers outnumbering gainers 524 to 343.

The index opened sharply lower but narrowed losses after retail investors went bargain hunting.

Foreigners and institutions sold a net 456.4 billion won and 702.3 billion won worth of local stocks, respectively, offsetting a net purchase of 750.7 billion won by individuals.

President Donald Trump said on social media that the U.S. would block ships from Iranian ports after Washington and Tehran failed to reach an agreement during peace talks in Pakistan over the weekend. The U.S. military said the blockade would begin at 10 a.m. Monday (U.S. time).

"Trump's announcement stirred concerns over a possible blockade of the Strait of Hormuz and rising oil prices, weighing on investor sentiment," said Lee Kyoung-min, a researcher at Daishin Securities.

"Foreign investors turned net sellers for the first time in five sessions, while individuals expanded their net purchase to support the index," he added.

Most shares ended in negative territory.

Market bellwether Samsung Electronics fell 2.43 percent to 201,000 won, and top carmaker Hyundai Motor lost 2.25 percent to 478,500 won.

Leading battery maker LG Energy Solution dropped 2.55 percent to 401,500 won, and bio giant Samsung Biologics retreated 1.34 percent to 1.55 million won.

Major shipbuilder HD Hyundai Heavy Industries declined 2.53 percent to 463,000 won, while flag carrier Korean Air fell 3.04 percent to 23,950 won.

Defense firms closed higher, with industry leader Hanwha Aerospace rising 1.53 percent to 1.53 million won and LIG Nex1 gaining 1.95 percent to 939,000 won.

Food and cosmetics shares also closed strong, with Samyang Foods, best known for the global hit Buldak ramyeon series, climbing 4.2 percent to 1.29 million won, while major cosmetics manufacturer Cosmax jumped 6.64 percent to 199,100 won.

The local currency closed at 1,489.3 won against the dollar, down 6.8 won from the previous session.

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