Asia
South Korean Shares Decline on Iran's Threat to Continue War Over Nuclear Rights
South Korean shares closed lower on Wednesday after Iran's Parliament Speaker Mohammad Bagher Ghalibaf said Tehran's nuclear rights and red lines were non-negotiable and that it would not go ahead with negotiations with the U.S. until commitments under their agreement were fulfilled.Ghalibaf added that Iran's nuclear program remained within the framework of the Nuclear Non-Proliferation Treaty (NPT) and under the supervision of the International Atomic Energy Agency (IAEA).The benchmark Korea Composite Stock Price Index, or Kospi, fell by 2%, or 173.07 points, to close at 8,303.41. The Kosdaq, rose by 1.4%, or 13.17 points, to end at 929.35.On the corporate front, LG Electronics (KRX:066570) established a robotics business center, which will focus on future business based on physical AI, the electronics products maker said in a Wednesday release.The new facility aims to integrate core capabilities required for commercialization, from business development to supply chain and manufacturing operations, by using physical AI. The company plans to operate the newly established facility as an independent business unit with integrated business development, sales, and operations functions, the release said.Shares of LG Electronics fell nearly 5% at market close.In other news, HL D&I Halla (KRX:014790) secured a construction order for Section 1 of the Jecheon-Yeongwol Expressway from the Korea Expressway Corp., according to a Wednesday filing with the Korea Exchange.The contract, valued at 155.1 billion won, is valid till Apr. 18, 2032, the filing said.Shares of HL D&I Halla jumped over 8% at market close.
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