Asia
South Korean Shares Snap Three-Day Winning Streak Amid IRGC Threats
South Korean shares snapped a three-day winning streak on Friday to close lower as escalating threats from Tehran overshadowed US President Donald Trump's talk of an imminent peace deal.The Korea Composite Stock Price Index or Kospi fell 34.13 points, or 0.6%, to end at 6,191.92. The Kosdaq increased by 7.07 points, or 0.6%, to close at 1,170.04.In economic news, the U.S. dollar accounted for 84.2% of export settlement for South Korea in 2025, marking the East Asian country's largest export settlement currency for the year, the Bank of Korea said in a Thursday release.The euro represented 5.9%, the South Korean won took up 3.4%, and the Japanese yen represented 1.9% of the country's export settlement currencies last year, the release said.In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) secured an order for four very large gas carriers (VLGCs) from an unnamed Middle Eastern shipping company.The deal is valued at 674.7 billion won. The shipbuilder will deliver the vessels by Nov. 30, 2029, according to a Friday filing with the Korean Exchange.Shares of HD Korea Shipbuilding & Offshore Engineering rose nearly 3% at market close.
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