South Korea's benchmark Kospi index dropped as much as 5.2%, while the Korean won fell to its lowest level since the global financial crisis. With the Iran conflict entering its fourth week, there are no signs of easing tensions. U.S. stock index futures and crude oil prices exhibited volatile movements. Retail investors were net buyers of Kospi shares during the morning session, while domestic and foreign funds were net sellers. Samsung Electronics and SK Hynix were the biggest drags on the index. Samsung shares fell as much as 5.3%, and SK Hynix declined by 6.5%. The Kosdaq index, tracking small-cap stocks, dropped up to 3.9%. The MSCI Asia Pacific index fell as much as 2.1%. The USD/KRW exchange rate rose by 0.3%, reaching its highest level since March 2009.