Impacted by the oil shock, South Korea and Japan have become the hardest-hit areas in the global stock market selloff.

Affected by the oil crisis, the stock markets of South Korea and Japan are leading the global decline, highlighting the pressure on economies highly dependent on fuel imports due to the interruption of oil supply in the Middle East. Since the conflict between the United States, Israel, and Iran erupted on February 28, the Seoul Kospi index has plummeted by 12%, while the Tokyo Nikkei 225 index has fallen by nearly 9%. South Korea implemented measures to cap oil prices last week to control inflation, while the rising oil prices have exacerbated price pressures in Japan, making the efforts of the Bank of Japan to control inflation more complicated without dragging down economic growth.