FINWIRES · TerminalLIVE
FINWIRES

South Korean Shares Close Higher for Third Day on Possible US-Iran Deal; HD Hyundai Heavy Industries Closes 4%

By

South Korean shares closed higher for a third straight day on Thursday, with the primary index Kospi ending the trading session over 6,200 points as optimism grew around a possible US-Iran deal.

Stocks also tracked overnight gains on Wall Street after U.S. President Donald Trump said the Iran war was "very close to over" in an interview that aired on Wednesday.

The Korea Composite Stock Price Index or Kospi rose 134.66 points, or 2.2%, to end at 6,226.05. The Kosdaq also increased by 10.54 points, or 0.9%, to close at 1,162.97.

In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) secured an order for two LPG carriers from an unnamed European shipowner.

The deal is valued at 346.6 billion won. The shipbuilder will deliver the vessels by April 30, 2029, according to a Thursday filing with the Korean Exchange.

Shares of HD Korea Shipbuilding & Offshore Engineering rose nearly 2% at market close.

In other news, HD Hyundai Heavy Industries (KRX:329180) won an order for pure car and truck carriers from a European shipping company, according to a Thursday filing with the Korean Exchange.

The deal is valued at 398.5 billion won. The shipbuilder will deliver the vessels by March 31, 2029.

Shares of HD Hyundai Heavy Industries rose 4% at market close.

Related Articles

Asia

Yageo's Profit Soars 45% in Q1

Yageo's (TPE:2327) net profit attributable to the parent jumped 44.7% year on year to NT$8.0 billion, or NT$3.90 per share, for the first quarter, according to a Wednesday Taiwan Exchange filing.Revenue for the period also increased 22.7% to NT$38.2 billion.Margins improved during the quarter, with gross margin at 38.1% and operating margin at 25.2%, both higher on a quarterly and annual basis.The electronic component manufacturer attributed growth to continued momentum in AI-related demand and steady gains across standard and specialty products.Yageo said it remains cautious amid geopolitical uncertainties, adding it will monitor tariffs, exchange rates and rising raw material costs in future.

TPE:2327
Asia

China Gas Industry Investment to Transfer Loans Worth 118 Million Yuan to Controlling Shareholder

China Gas Industry Investment (HKG:1940) agreed to assign three loans totaling 118 million yuan to its controlling shareholder, according to a Wednesday Hong Kong bourse filing.Shares of the gas company were down nearly 2% in late-morning trade on Thursday.The loans, along with accrued interest, will be transferred to Tangde Gas for a consideration equal to the outstanding principal.The receivables, extended in 2020, have been overdue since maturity and were fully provided for in the company's accounts.The transaction will generate cash proceeds and support the group's financial position, with net proceeds to be used for general working capital.

HKG:1940
Asia

Virgin Australia Remains in Strong Financial, Strategic Position Due to Conservative Approach to Fuel Hedging, Jarden Says

Virgin Australia Holdings (ASX:VGN) remains in a strong financial and strategic position due to its conservative approach to fuel hedging over fiscal 2026, Jarden said in a note on Wednesday.The airline flagged an increase of fuel costs for the fiscal 2026 second half of around AU$30 million to AU$40 million. Revenue-per-available-seat-kilometer growth is expected to be around 5% in the second half, and 6% in the fourth quarter of fiscal 2026, compared with previous second half guidance of 3% to 4%. Total domestic capacity is now expected to increase 1% in the second half and fall 1% in the fourth quarter.Jarden forecast a higher fuel cost burden in fiscal 2027 than fiscal 2026, especially the first half of fiscal 2027. It modeled a net earnings before interest and taxes (EBIT) impact, after revenue management, of around AU$14 million per quarter in fiscal 2027 from fuel costs exceeding revenue capture.It lowered its fiscal 2026 EBIT forecasts to AU$751 million, and its fiscal 2027 group EBIT forecast to AU$790 million from AU$817 million.The investment firm retained its buy rating on Virgin Australia and reduced the price target to AU$3.80 from AU$4.Virgin Australia's shares soared almost 5% in recent Thursday trade.

ASX:VGN