[MARKET UPDATE] South Korean stocks continue to get pummelled with the KOSPI down around 9% after earlier triggering a circuit breaker, with heavy losses seen in tech and shipping names owing to the Middle East conflict and Strait of Hormuz disruption

The significant drop in South Korean stocks, particularly the KOSPI's 9% decline, signals heightened market anxiety due to the ongoing Middle Eastern conflict and potential disruptions in the Strait of Hormuz. This situation suggests that tech and shipping sectors are feeling immediate pressure, reflecting concerns over supply chain impacts and energy prices, which could have wider implications for regional markets and investor sentiment.