From CNBC, March 8:
South Korea’s Kospi triggered its second circuit breaker in four sessions on Monday, Oil prices breached $100 per barrel as Middle East producers cut output. Brent futures spiked 16.1%, while U.S. West Texas Intermediate was up almost 17.7%. South Korea’s Kospi triggered its second circuit breaker in four sessions on Monday, leading a broader regional sell-off as oil prices breached $100 per barrel for the first time since 2022.
The index plunged over 8%, triggering a 20 minute suspension in trading from 10.31 a.m. local time. Heavyweight Samsung Electronics plunged more than 10%, while chip counterpart SK Hynix shed 11.6%.
A circuit breaker was activated last week when the benchmark tumbled more than 12% Wednesday to record its worst single-day decline.
Japan’s Nikkei 225 tumbled 6.48%, falling below the 53,000 mark for the first time since Feb. 6, while the Topix was down 5.8%.
Softbank Group Corp was among the largest losers on the index, falling over 11%, while chip-related stocks such as Advantest and Lasertec was also down over 10% and 9%, respectively.
Australia’s S&P/ASX 200 fell 4.15%.
Hong Kong Hang Seng index also fell 3%, while the CSI 300 on mainland China was down 2%....
....MUCH MORE
