South Korea’s benchmark Kospi index reversed course on Tuesday, shedding early gains as geopolitical concerns over Iran overshadowed a wave of bargain hunting in the technology sector.
The benchmark opened slightly higher, driven by investors moving to buy into battered tech heavyweights that had sold off in previous sessions.
However, the rally failed to hold as broader market sentiment cooled amid escalating tensions in the Middle East.
The intraday reversal highlights the persistent sensitivity of Asian equities to geopolitical shocks.
While domestic bargain hunting provided initial support, the risk-off dynamic triggered by developments involving Iran proved dominant.
Traders appeared unwilling to sustain positions in cyclical and growth-oriented sectors until the geopolitical outlook stabilizes.