Seoul shares start higher on large-cap gains

South Korean stocks started a tad higher Tuesday led by gains in Samsung Group shares.  The benchmark Korea Composite Stock Price Index rose 3.38 points, or 0.17 percent, to 1,967.05 in the first 15 minutes of trading.  Tech giant Samsung Electronics gained 0.63 percent, and Samsung SDI, its battery-manufacturing unit, advanced 3.38 percent.  Samsung Engineering soared 23.66 percent following a plan to sell new shares to improve its financial status.  The local currency was trading at 1,174.45 w

Dec. 8, 2015

Seoul shares down 0.54 pct on extended foreign sell-off

South Korean stock fell 0.54 percent Monday as foreign investors continued to dump local stocks ahead of a rate-setting meeting of the U.S. Federal Reserve next week. The local currency lost ground sharply against the U.S. dollar.  The benchmark Korea Composite Stock Price Index lost 10.73 points to 1,963.67. Trade volume was slim at 375 million shares worth 3.35 trillion won ($2.87 billion), with decliners beating winners 527 to 293.  "The market wants to see the result of the Fed meeting, alth

Dec. 7, 2015

Seoul shares up 0.05 pct in late-morning trade

South Korean stocks traded a tad higher late Monday morning as a robust U.S. jobs report boosted investor sentiment,  with chemical shares getting a big boost from cheaper oil prices that stem from a global oversupply.    The benchmark Korea Composite Stock Price Index rose 1.04 points, or 0.05 percent, to 1,975.49 as of 11:20 a.m.  Refiners traded bullish after oil prices slid to below US$40 per barrel, with the Organization of the Petroleum Exporting Countries deciding to keep production high

Dec. 7, 2015

BOK forecast to hold key rate steady ahead of U.S. rate hike

South Korea's central bank is expected to hold its key rate steady for another month as it continues to gauge the impact of previous rate cuts and the impact of what many believe to be an imminent U.S. rate hike on the local economy, a poll showed Monday.  In a poll conducted by Yonhap Infomax, the financial news arm of Yonhap News Agency, all 14 economists surveyed projected the Bank of Korea (BOK) to keep its policy rate unchanged at a record low 1.5 percent for December at its monthly rate-se

Dec. 7, 2015

Korea's overseas assets hit record high in Q3

South Korea's overseas assets rose to a record high in the third quarter of this year, with its short-term foreign debt also dipping from three months earlier, the central bank said Monday.  According to the Bank of Korea, the country's external assets stood at $722 billion as of end-September, $5.1 billion more than three months earlier, the highest tallied so far.  This marks a gain from $716.9 billion reached at the end of June and much larger than $683.6 billion tallied in late 2014.   South

Dec. 7, 2015

Seoul shares open higher on tech, cosmetics gains

South Korean shares started higher Monday as tech firms, cosmetics and other large-cap issues gathered ground.  The benchmark Korea Composite Stock Price Index  rose 7.64 points, or 0.39 percent, to 1,982.04 in the first 15 minutes of trading.  Chipmaker SK hynix moved up 0.96 percent and LG Display, a leading flat panel maker, jumped 1.36 percent.  AmorePacific, the largest cosmetics maker, gained 1.11 percent and No. 2 LG Household & Healthcare advanced 1.21 percent.  The local currency was tr

Dec. 7, 2015

Market cap of bio shares nearly triples in 4 years

The market value of bio shares has grown at the fastest clip on the Seoul bourse over the past four years, with Hanmi Pharmaceutical leading the rally on the back of mega license agreements, data showed Sunday. The market cap of bio shares on the KOSPI market came to 28.53 trillion won ($24.57 billion) as of Friday, up from 10.23 trillion won at end-2011 and more than double from a year ago, according to the data by the Korea Exchange.The ratio of bio and health care stocks on the KOSPI rose fro

Dec. 6, 2015

ECB’s extended stimulus to have limited impact on S. Korea

South Korea’s stock market turned bearish Friday at the news of the eurozone’s overnight decision to extend its stimulus program until at least March 2017.But the impact of the measure, which largely fell short of investors’ expectations, will remain limited in Korea as its economy is more dependent on the incoming rise of the U.S. Fed’s rate and the resulting exchange rate fluctuations than the immediate rate cut in Europe, observers said.The benchmark Korea Composite Stock Price Index lost 14.

Dec. 4, 2015

Seoul shares sink 0.99% on ECB disappointment

South Korean stocks fell 0.99 percent Friday as investors joined the global selloff stemming from the disappointing stimulus measures by the European Central Bank.The local currency gained ground sharply against the U.S. dollar.  The benchmark Korea Composite Stock Price Index lost 19.67 points to 1,974.4. Trade volume was slim at 370.9 million shares worth 3.2 trillion won ($2.77 billion), with losers far outnumbering gainers 544 to 254.  The ECB said it will extend its quantitative easing prog

Dec. 4, 2015

Seoul shared down 0.97% in late-morning trade

South Korean stocks traded 0.97 percent lower late Friday morning due to disappointment in the European Central Bank's stimulus step.  The benchmark Korea Composite Stock Price Index lost 19.42 points to 1,974.65 as of 11:20 a.m.  Samsung Group shares traded in negative territory, with Samsung SDI, the group's battery-making unit, slumping 1.25 percent and Samsung C&T, its construction and trading affiliate, sinking 1.36 percent.  Lotte Shopping, the largest retailer, shed 1.3 percent and Shinse

Dec. 4, 2015

Korean investment in overseas securities inches down in Q3

The amount of foreign securities held by South Korea's institutional investors edged down in the third quarter from three months earlier because of a plunge in stock investments, central bank data showed Friday.The value of foreign securities held by the country's institutional investors came to US$114.93 billion at the end of the July-September period, down 0.5 percent from $115.54 billion three months earlier, according to the Bank of Korea.The on-quarter drop in the July-September period mark

Dec. 4, 2015

Seoul shares down 0.76% after Fed chief's remarks

South Korean stocks retreated 0.76 percent Thursday as U.S. Federal Reserve Chair Janet Yellen reinforced expectations of an interest rate hike later this month. The local currency fell against the U.S. dollar for the third consecutive day.   The benchmark Korea Composite Stock Price Index lost 15.22 points to 1,994.07. Trade volume was slim at 360.92 million shares worth 3.17 trillion won ($2.72 billion), with losers outpacing gainers 475 to 333.  Analysts said investors remain cautious ahead o

Dec. 3, 2015

Seoul shares open lower on Wall Street losses

South Korean stocks opened lower Thursday following overnight losses on Wall Street after U.S. Federal Reserve Chair Janet Yellen hinted at an interest rate hike this month. The benchmark Korea Composite Stock Price Index lost 13.11 points, or 0.65 percent, to 1,996.1 in the first 15 minutes of trading. Stocks fell across the board, with chemicals leading the losses. SK Innovation, the nation's top refiner, declined 1.57 percent, and No. 3 S-Oil retreated 1.74 percent. U.S. stocks fell on Wednes

Dec. 3, 2015

Seoul shares fall 0.72% ahead of ECB meeting

South Korean stocks retreated 0.72 percent Wednesday as investors took to the sidelines ahead of the European Central Bank's two-day policy meeting to decide on expanding its stimulus step. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index dropped 14.64 points, or 0.72 percent, to 2,009.29. Trade volume was moderate at 623.96 million shares worth 4.3 trillion won ($3.69 billion), with losers far outpacing gainers 532 to 286.Investors expect the ECB t

Dec. 2, 2015

Seoul shares down 0.23% in late morning trade

South Korean stocks traded lower late Wednesday morning as foreign investors dumped market heavyweights on woes over a widely expected rate hike in the United States.The benchmark Korea Composite Stock Price Index lost 4.73 points, or 0.23 percent, to 2,019.2 as of 11:20 a.m. Most market heavyweights were in negative terrain. Top market cap Samsung Electronics declined 0.61 percent, and Korea Electric Power Corp., the state-run power provider, slipped 1.31 percent.However, cosmetics shares trade

Dec. 2, 2015

Seoul to collect loan from local firms investing in Pyongyang

South Korea plans to retrieve part of special soft loans provided to local firms involved in economic cooperation with North Korea for the first time in five years, government officials said Wednesday.Tapping into a state fund on inter-Korean cooperation, Seoul has provided loans with low rates to such companies to help them cope with financial troubles stemming from the South's punitive sanctions against the North in 2010.  Local firms that had invested in projects and assets in North Korea are

Dec. 2, 2015