Asia
South Korean Shares Close Higher on Lower Oil Prices, Hopes Over Middle East Conflict Resolution
South Korean shares closed higher on Monday after crude oil prices fell toward $98 a barrel for a fourth straight session amid hopes that increased diplomatic efforts could help end the conflict and restore energy flows from the Middle East.The Korea Composite Stock Price Index, or Kospi, increased by 113.49 points, or about 1.65%, to close at 7,007.72. The Kosdaq also rose by 9.15 points, or 1.11%, to close at 836.27.U.S. President Donald Trump said he would "probably" be open to meeting Iranian President Masoud Pezeshkian on the sidelines of the United Nations General Assembly in New York this week, as Washington weighs its next steps and Tehran sets conditions for renewed negotiations.In economic news, South Korea's greenhouse gas emissions declined 0.9%, or 6.1 million tons, to 685.71 million tons in 2025 from a year earlier, the Ministry of Climate, Energy and Environment said Monday.Emissions fell year-on-year in the industrial, transportation, agriculture, fisheries and waste sectors, while increasing in the electricity, building and refrigerant sectors, the release said.In corporate news, shares of Samsung Electronics (KRX:005930) added nearly 5% at market close on Monday after the company broke ground for the Fläkt Group's heating, ventilation, and air conditioning (HVAC) production line at its Gwangju plant in South Jeolla Province.Samsung Electronics will invest about 240 billion won to build an HVAC production line with a total floor area of 21,800 square meters at the 3rd Campus of the plant. The new production line is scheduled to become fully operational in early 2028.
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