Oil Prices Spike Amid Middle East Conflict
Brent crude futures surged 13% intraday to breach $82 per barrel following U.S.-Israeli airstrikes on Iran, marking the largest single-day gain in four years. West Texas Intermediate also jumped more than 12%, triggering circuit breakers.
Goldman Sachs warned that a complete blockade of the Strait of Hormuz lasting more than a month could constrain 20% of global LNG production, potentially sending European and Asian gas prices up 130%. Wall Street analysts estimate that oil prices sustaining at $80-90 per barrel could reduce real GDP by 0.3-0.4 percentage points in oil-importing nations such as South Korea.
Asian Markets Demonstrate Unexpected Resilience
Asian equity markets opened sharply lower with declines of 1-2% but showed unexpected resilience throughout the session. Japan's Nikkei index closed down 1.35%, while Shanghai's composite index finished 0.47% higher.
Four research center heads at major Korean securities firms assessed that the impact on domestic markets would remain limited unless the Strait of Hormuz is actually blockaded. Historical patterns show markets typically recover after maximum corrections of around 10% during geopolitical conflicts. Analysts recommend portfolios centered on semiconductor leaders.
Samsung Electronics' annual operating profit estimate for this year has been revised upward by 48% from a month ago to 179.76 trillion won, according to FnGuide. SK Hynix estimates rose 57% to 153.51 trillion won.
However, analysts cautioned against excessive margin trading, noting that credit trading balances reached a record 32.37 trillion won with deposits at an all-time high of 119.48 trillion won.
NPS Eyes India Expansion
National Pension Service is reviewing the establishment of its fifth overseas office in India, following existing operations in New York, London, Singapore, and San Francisco. CIO Seo Won-ju is scheduled to visit India this month to assess the local financial environment and investment opportunities.
The move aims to diversify away from North America and Europe, which currently account for 70.5% and 14% of overseas equity investments respectively. India has recorded average annual growth exceeding 7%, with global institutional investors including Temasek, GIC, and CPPIB already maintaining active investment operations through Mumbai offices.
Kosdaq ETF Competition Heats Up
Samsung Active Asset Management and Timefolio Asset Management will simultaneously launch Kosdaq active ETFs on the 10th of this month. Samsung Active's fund charges 50 basis points and focuses on seven growth sectors including pharmaceuticals, biotech, and semiconductor equipment. Timefolio's offering charges 80 basis points with a core-satellite strategy targeting excess returns.
Individual investors have net purchased 2.98 trillion won in KODEX Kosdaq 150 and 1.48 trillion won in leveraged products this year, reflecting surging demand for Kosdaq exposure.
Corporate Bond Market Turns Cautious
Companies net redeemed 2.66 trillion won in corporate bonds last month—the first February net redemption since 2016—as three-year government bond yields climbed to 3.269% and AA- rated corporate bond yields reached 3.809%.
Public bond funds saw outflows of 2.46 trillion won as investors rotated into equities amid the Kospi's advance toward 6,000. Market participants expect stabilization this month following the February Monetary Policy Board meeting.
Chinese Tech Firms Showcase Advances at MWC
At MWC 2026, themed "Thinking Infrastructure," Chinese companies demonstrated significant technological progress. Honor unveiled a humanoid robot capable of backflips and a 360-degree rotating camera phone, while Agibot reported 5,000 unit shipments within three years.
Chinese participation at MWC increased 21.5% year-over-year to 350 companies. Korean firms responded with LG Uplus presenting its AI agent "ixi-O" equipped robot, KT showcasing its "K-RaaS" robot platform, and Samsung Electronics demonstrating AI-based autonomous manufacturing systems.
