South Korean Shares Close Lower amid Israel's Beirut Attack, US-Iran Ceasefire Under Strain
South Korean shares closed lower on Thursday after Israel violated the US-Iran truce and attacked Lebanon's capital, Beirut, on Wednesday.Investors remained skeptical about the longevity of the ceasefire amid the recent attack, as Tehran prepares to engage in talks with the US in Islamabad from Friday. The development also clouded the potential reopening of the critical Strait of Hormuz in the near term.The Korea Composite Stock Price Index or Kospi fell 94.33 points, or 1.6%, to end at 5,778.01. The Kosdaq also decreased by 13.85 points, or 1.3%, to close at 1,076.Israel hit Beirut without warning on Wednesday, hours after the US and Iran agreed on a two-week ceasefire. The strikes killed at least 250 people and wounded 890, according to AFP.In corporate news, Hanwha Ocean (KRX:042660) secured an order for two very large crude carriers from an Oceania-based shipowner, according to a Thursday filing with the Korea Exchange. The contract, valued at 393.3 billion won, is valid till Jan. 4, 2030.Shares of Hanwha Ocean fell more than 3% at market close.