Key facts
- South Korea's Kospi index declined on Wednesday.
- Weakness in chip stocks contributed to the decline.
- Geopolitical tensions, specifically a US strike on Iran, reduced investor risk appetite.
South Korea's main stock market index, the Kospi, extended its losses on Wednesday. The decline was attributed to a renewed downturn in the performance of chip stocks, a key sector for the Korean economy. Additionally, a general weakening of investor risk appetite, influenced by geopolitical developments including a US strike on Iran, contributed to the market's downturn.