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Seoul stocks close slightly lower amid mixed signals on Iran war
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South Korean stocks closed slightly lower Friday amid mixed US signals on its war with Iran and eased chip sector concerns. The benchmark KOSPI fell 0.4 percent to 5,438.87, while the won weakened against the dollar.
Seoul stocks opened sharply higher on Wednesday amid growing optimism over Washington's moves to end the month-long war in Iran. The benchmark KOSPI rose 170.22 points, or 3.06 percent, to 5,724.14 in the first 15 minutes of trading.
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Prime Minister Narendra Modi assured on Monday in Lok Sabha that the government is working relentlessly to minimize the impact of the US-Iran war in West Asia. He called attacks on commercial ships in the Strait of Hormuz unacceptable and urged citizens to stay united like during Covid-19.