Financial Wire

South Korean Shares Open Flat as US-Iran Tensions Continue

-- South Korean shares opened flat with a positive bias on Monday as tensions between the U.S. and Iran continue.

The benchmark Korea Composite Stock Price Index, or Kospi, marginally rose to open at 6,213.92. The Kosdaq also gained slightly to begin trading at 1,167.10.

Iran's military command, Khatam al-Anbiya, on Monday accused the U.S. of violating a two-week ceasefire after the U.S. Navy destroyer USS Spruance intercepted an Iranian-flagged cargo vessel called Touska near the Strait of Hormuz.

In a post on Truth Social on Sunday, U.S. President Donald Trump said the vessel ignored warnings and was seized by U.S. Marines, adding that the vessel was under US Treasury sanctions over alleged past "illegal activity."

Related Articles

Asia

Hollwin Urban to Buy Smart City Firm for 50 Million Yuan

Hollwin Urban Operation Service (HKG:2529) agreed to acquire a smart city technology firm for 49.5 million yuan, according to an April 17 Hong Kong bourse filing.Shares of the urban service and operation provider were up nearly 2% in Monday morning trade.The company will purchase the entire equity interest in Hunan Liwei Zhongtian Technology Development from its controlling shareholder, Changsha Urban Development Group, and five individual shareholders.The target provides intelligent systems engineering, smart city construction, and software development services.The consideration will be paid in cash in stages, with 70% due at completion and the remainder subject to profit and receivables recovery targets over three years.Hollwin said the acquisition will strengthen its smart city capabilities and support its expansion into technology-driven urban services.

$HKG:2529
Asia

Poly Developments and Holdings 2025 Profit Down 79%, Revenue Slips 1%

Poly Developments and Holdings (SHA:600048) posted 2025 attributable net profit of 1.03 billion yuan, down 79% from 5.00 billion yuan the previous year.Earnings per share fell to 0.54 yuan from 2.53 yuan, according to a filing with the Shanghai bourse.Operating revenue slipped 1.1% year over year to 308.1 billion yuan from 311.7 billion yuan.Shares of the property developer were up 2% in recent trade.

$SHA:600048
Asia

Sunshine Metals Says Grade Control Drilling at Proposed Open Pit at Queensland Project Returns Shallow, High-Grade Results; Shares Jump 10%

Sunshine Metals (ASX:SHN) said the grade control drilling program within the proposed Liontown open pit, part of its Ravenswood consolidated project in Queensland, returned shallow, high-grade results, according to a Monday Australian bourse filing.The company encountered intercepts of 7 meters at 5.9 grams per tonne (g/t) grade of gold from surface and 3 meters at 25 g/t grade of gold from 14 meters.It also hit an intercept of 14 meters at 12.4 g/t grade of gold from 79 meters during resource drilling at the Liontown Au Panel, a gold-dominant deposit to form part of the proposed underground mine within the recent mining study.An updated Liontown resource is due in the June quarter, per the filing.Sunshine Metals shares jumped 10% in recent trading on Monday.

$ASX:SHN