South Korea: Shares end at near 1-month low on escalation in Middle East crisis

[SEOUL] South Korean stocks stumbled more than 1 per cent on Wednesday to end at a near one-month low, as heightened tensions between the United States and Iran dampened risk appetite of investors. 

The Seoul stock market's main KOSPI ended down 24.23 points, or 1.11 per cent, at 2,151.31, registering its lowest close since Dec 12.

Iran launched missile attacks on US-led forces in Iraq in the early hours of Wednesday in retaliation to a US drone strike killing an Iranian commander, which has raised fears of a wider war in the Middle East.

Iran is not seeking war but it will deliver a crushing response to any aggression, the government spokesman said a few hours after Teheran hit US targets in Iraq in retaliation to the killing of Quds Force commander Qassem Soleimani.

The KOSPI has fallen 2.11 per cent so far this year, but gained 3.8 per cent in the previous 30 trading sessions.

REUTERS