South Korean Shares Close Higher for Third Day on Possible US-Iran Deal; HD Hyundai Heavy Industries Closes 4%

MT Newswires Live04-16

South Korean shares closed higher for a third straight day on Thursday, with the primary index Kospi ending the trading session over 6,200 points as optimism grew around a possible US-Iran deal.

Stocks also tracked overnight gains on Wall Street after U.S. President Donald Trump said the Iran war was "very close to over" in an interview that aired on Wednesday.

The Korea Composite Stock Price Index or Kospi rose 134.66 points, or 2.2%, to end at 6,226.05. The Kosdaq also increased by 10.54 points, or 0.9%, to close at 1,162.97.

In corporate news, HD Korea Shipbuilding & Offshore Engineering (KRX:009540) secured an order for two LPG carriers from an unnamed European shipowner.

The deal is valued at 346.6 billion won. The shipbuilder will deliver the vessels by April 30, 2029, according to a Thursday filing with the Korean Exchange.

Shares of HD Korea Shipbuilding & Offshore Engineering rose nearly 2% at market close.

In other news, HD Hyundai Heavy Industries (KRX:329180) won an order for pure car and truck carriers from a European shipping company, according to a Thursday filing with the Korean Exchange.

The deal is valued at 398.5 billion won. The shipbuilder will deliver the vessels by March 31, 2029.

Shares of HD Hyundai Heavy Industries rose 4% at market close.

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