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SK Innovation Holds 130,000-Won Level Amid 5.72% KOSPI Plunge... Refinery Stocks 'Resilient' Amid Middle East Turmoil

On the 24th, while the domestic stock market experienced an overall sharp decline, SK Innovation limited its losses relatively and successfully defended the 130

Oseong Kwon
Staff Reporter
4 min read
SK Innovation Holds 130,000-Won Level Amid 5.72% KOSPI Plunge... Refinery Stocks 'Resilient' Amid Middle East Turmoil
CBC News

On the 24th, while the domestic stock market experienced an overall sharp decline, SK Innovation limited its losses relatively and successfully defended the 130,000-won level.

On this day, SK Innovation closed the regular trading session at 130,100 won, down 2,100 won (1.59%) from the previous trading day. Although there was intraday volatility, it showed a relatively stable trend compared to the broader market crash.

On the same day, the KOSPI closed at 6,690.62, down 406.27 points (-5.72%) from the previous trading day. This was because risk-aversion sentiment in global markets expanded rapidly as military conflict between the United States and Iran intensified. As a result, a wave of selling poured in, led by foreign and institutional investors, causing the domestic stock market to fluctuate sharply.

Even amid such market headwinds, SK Innovation is evaluated as having performed relatively well, with its decline limited to the 1% range. It is analyzed that as international oil price volatility has expanded due to recent rising tensions in the Middle East, investors' continued interest in refining and energy sectors provided solid support for the stock price to a certain extent.

However, the market believes that since geopolitical risks are unlikely to be resolved in the short term, future international oil price trends and changes in global stock market investment sentiment will be key variables for SK Innovation's share price. Investors are expected to closely monitor the Middle East situation and international oil price trends over the weekend to gauge the direction of next week's stock prices.

[This article is not intended to solicit investment. All final decisions and responsibilities regarding investments lie with the investor.]

Oseong Kwon
Staff Reporter

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