South Korea’s Kospi saw its worst day in 19 months, weighed down by heavyweights Samsung Electronics and SK Hynix that fell almost 10% and 12%, respectively, on Tuesday as trading resumed after a public holiday.
Samsung shares plunged after a report revealed that mass production at the company’s U.S. plant in Taylor, Texas had been pushed back to 2027 from this year.
The country’s defense stocks, however, surged, with some names rising over 20%.
Other Asia-Pacific markets tumbled as the conflict in Iran continues to rage on for a fourth day, denting risk sentiment.
In Japan, the Nikkei 225 cratered 1,778.19 points, or 3.1%, to 56,279.06
In Hong Kong, the Hang Seng docked 291.77 points, or 1.1%, to 25,768.08
In other markets
In China, the CSI 300 dropped 72.77 points, or 1.5%, to 4,655.90.
In Singapore, the Straits Times Index regrouped 25.79 points, or 0.5%, to 4,916.65.
In Korea, the Kospi returned to trading after a long weekend, but declining 452.22 points, or 7.2%, to 5,791.91.
In Taiwan, the Taiex index surrendered 771.44 points, or 2.2%, to 34,323.65.
In Australia, the ASX collapsed 123.59 points, or 1.3%, to 9,077.30.
In New Zealand, the NZX 50 lost 36.44 points, or 0.3%, to 13,620.21.
