Middle East Tensions
Seoul shares close flat amid Middle East tensions
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Seoul shares ended flat on Friday as investors bought defense and shipbuilding stocks to offset declines in major tech shares amid Middle East tensions. The benchmark KOSPI edged down 0.18 point to close at 6,475.63. The South Korean won fell against the U.S. dollar.
South Korean stocks opened slightly lower on Friday amid persistent Middle East tensions and little progress in US-Iran peace talks. The KOSPI fell 7.21 points, or 0.11 percent, to 6,468.60 in the first 15 minutes of trading. The decline followed overnight Wall Street losses as investors stayed on the sidelines.
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Chinese Foreign Ministry spokesperson Guo Jiakun said on Tuesday that the US blockade of Iran's ports is dangerous and irresponsible, warning it would inflame tensions and undermine a fragile ceasefire. China urged all parties to abide by the ceasefire, focus on dialogue and negotiations, and take actions to de-escalate and restore normal passage through the Strait of Hormuz.
The International Cricket Council has implemented contingency measures to ensure the safety of stakeholders at the Men's T20 World Cup 2026 in India and Sri Lanka, following disruptions from US-Iran conflict in the Middle East. While the tournament proceeds without direct impact, travel through Gulf hubs like Dubai is affected. The ICC is providing real-time advisories and alternative routing options to minimize disruptions.