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South Korean Shares Retreat After Five‑day Rally as Investors Book Profits

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South Korean shares closed lower Tuesday, snapping a five-day winning streak, as investors booked profits, with large‑cap stocks leading declines amid pessimism over U.S.-Iran tensions.

U.S. President Donald Trump said Washington does not want to extend its memorandum of understanding with Iran, which expired Monday, and urged Tehran to surrender.

The Korea Composite Stock Price Index, or Kospi, decreased by 108.11 points, or 1.6%, to close at 6,869.83. The Kosdaq also fell by 30.45 points, or 3.5%, to close at 834.2.

In corporate news, Hyundai Rotem (KRX:064350) said discussions on acquiring Hyundai Wia's defense solutions business remain ongoing, with no confirmed details yet, in response to an April 16 Korea Economic Daily report. Shares fell nearly 3%.

In other news, Mirae Asset Securities (KRX:006800) said it is reviewing a potential acquisition of U.S. investment platform Public.com, following a Maeil Business Newspaper report. The firm said no details have been finalized and it will update disclosures within a month. Shares fell more than 3%.

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