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StocksMedium•11 May 2026•

1 min read

Kospi Hits Record High Despite Oil Spike and Rising US-Iran Tensions

Key Facts

1South Korea's Kospi index hit a record high despite Asian markets opening on a defensive note due to geopolitical tensions.

2Oil prices rebounded sharply with WTI June futures rising 3.94% to $99.18 a barrel.

South Korea's Kospi index hit a new record high, demonstrating idiosyncratic strength even as broader Asian markets opened on a defensive note. This rally occurred despite heightened geopolitical risks following President Trump's rejection of Tehran’s latest peace proposal. Concurrently, energy markets reacted sharply to the news, with WTI June futures surging 3.94% to reach $99.18 a barrel.

These market moves come amid rising inflationary pressures in the region, with South Korea's annual inflation rate climbing to 2.6% as of May 5, 2026, per market data. In comparison to regional peers, Asian indices showed mixed performance due to concerns over potential supply disruptions in the Strait of Hormuz, leading investors to maintain a cautious stance despite the Kospi's record-breaking momentum.

Traders are now watching support levels for the Kospi following its historic peak, while focusing on the upcoming EIA Weekly Petroleum Report to gauge the sustainability of the oil price rebound. Additionally, the release of Japan's Monetary Policy Meeting Minutes on May 6, 2026, will be a key catalyst for assessing regional liquidity trends amidst ongoing geopolitical volatility.