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South Korean Shares Open Lower Amid Uncertainty Around US-Iran Peace Deal

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South Korean stocks opened lower on Friday as investors adopted a wait-and-see approach amid uncertainty over the U.S.-Iran peace agreement.

The benchmark Korea Composite Stock Price Index, or Kospi, fell 3.66%, or 316.21 points, to open at 8,323.2. The Kosdaq shed 14.51 points to open at 1,035.22.

Iranian Foreign Minister Abbas Araghchi said earlier this week that "no tangible progress" had been made in the country's negotiations with the U.S. to end the war, according to CBS News.

Araghchi said communication with the U.S. was ongoing but warned that any attack by Israel on Lebanon's capital, Beirut, under its campaign against Hezbollah would lead to fresh tensions in the U.S.-Iran conflict.

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