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South Korean Shares Open Lower on Overnight Wall Street Losses, Fresh US-Iran Tensions

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South Korean shares opened sharply lower on Thursday, owing to overnight losses on Wall Street and fresh Middle East tensions after the U.S. launched new military attacks on Iran's Qeshm Islands.

The benchmark Korea Composite Stock Price Index, or Kospi, fell 2%, or 177.67 points, to open at 8,623.82. The Kosdaq increased 0.7%, or 6.88 points, to open at 1,032.91.

The major U.S. stock indices closed lower on Wednesday, with the Dow Jones Industrial Average declining 1.21%, the S&P 500 falling 0.74%, and the Nasdaq Composite shedding 0.89%.

The U.S. military said it tackled multiple Iranian missiles and drone attacks in the Gulf and carried out self-defense strikes on an Iranian military ground control station on Qeshm Island. U.S. forces also shot down three Iranian attack drones that were heading toward civilian mariners in regional waters, according to the U.S. Central Command.

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