Korean Stocks Sink as Chipmakers Drop on Middle East, China IPO

South Korean stocks declined as funds reduced exposure to chipmakers following losses in US peers, influenced by a Chinese rival's upcoming share sale and Middle East tensions. Simultaneously, Chinese buyers are rapidly acquiring Russia's ESPO crude weeks ahead of schedule. This surge in purchasing occurs as refiners seek to secure essential oil supplies amid growing risks to Middle East oil flows, ensuring energy stability while global markets react to geopolitical instability and sector-specific financial pressures.